CyberCX buys Melbourne's Basis Networks

Australia’s largest cybersecurity company, CyberCX, has arranged to acquire Melbourne-based cybersecurity provider Basis Networks.

Basis Networks provides a suite of cybersecurity professional services to customers including AEMO, Australia Post, JB Hi-Fi, Bupa and McMillan Shakespeare. The company was founded in 2015.

CyberCX CEO John Paitaridis said the acquisition forms part of the company’s strategy of taking steps to accelerate growth in its network security, managed services, integration and engineering capability.

“Corporate networks represent a key vulnerability for Australian businesses, especially with a large proportion of the economy engaged in remote working. Basis Networks’ reputation for providing highly secure network infrastructure and cloud solutions will strengthen CyberCX’s position as Australia’s leading cybersecurity service provider,” he said.

“We are pleased to add Basis Networks’ capabilities, experience and customer-focused approach to CyberCX’s comprehensive security service offerings ... CyberCX is committed to working with customers to advise, build, implement and manage security solutions; we are committed to supporting organisations through the journey.”

Paitaridis said the company expects the Indo-Pacific security services market to grow by $31 billion over the next five years, and that the acquisition is partly aimed at helping the company capture the additional opportunities this will bring.

CyberCX also recently acquired Melbourne-based cybersecurity specialist Identity Solutions as part of its cybersecurity investment strategy.

Pending the receipt of regulatory approval, CyberCX expects to close the acquisition in the coming weeks.

Pictured: CyberCX Chief Strategy Officer Alastair Macgibbon and CyberCX CEO John Paitaridis.