Hivint acquisition strengthens Optus's security play
Optus’s planned acquisition of Australia-based cybersecurity consulting company Hivint will help the company gain traction with its security advisory services in Australia, and potentially the wider Asia–Pacific region, according to GlobalData.
Optus Cyber Security, a subsidiary of Optus’s wholly owned parent company Singtel, announced in October that it has entered into a conditional agreement to acquire 100% of Hivint for $23.3 million.
Hivint provides a wide range of security professional services including technical, governance, risk and compliance services.
The company operates Security Colony, a software-as-a-service platform offering a library of information security management system templates, standards and policies.
Singtel and Optus announced that they will integrate Hivint’s advisory services into the security offerings provided across Australia and Asia–Pacific by Trustwave, their joint global cybersecurity arm.
GlobalData Technology Analyst Siow Meng Soh said the acquisition will leave Singtel and Optus better placed to sell digital cybersecurity solutions to large enterprises and government organisations.
“This is a positive move for Singtel and Optus because while Hivint is a relatively young company, it has built a credible team of cybersecurity specialists across Brisbane, Melbourne, Perth and Sydney, and gained strong market traction. The acquisition of Hivint helps to ramp up Optus’s cybersecurity advisory capabilities in Australia,” he said.
“Hivint’s knowledge base and the systematic approach to re-use material that it has created for various clients means that the company can offer professional services more cost-effectively. This is important for Singtel and Optus as they attempt to grow the security business and customers are looking for advice on cybersecurity preparedness instead of just another piece of security technology.”
But Soh added that because Hivint’s employees are the company’s main asset, retaining staff will be a major challenge for Singtel and Optus.
Optus could also face difficulties gaining traction in Asia–Pacific, where its brand is largely unknown outside of Australia.
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