Penten and Amiosec announce digital information security merger
Australian digital defense innovator Penten and British cyber innovator Amiosec have announced an agreement to combine their complementary capabilities.
The merger will create a major provider of digital information security technologies for the United Kingdom, Australia and their allied nations, strengthening AUKUS’ cyber industrial base.
“We’ve heard directly from our customers: cyber threats are increasing and increasing in complexity, they want innovative thinking, an agile approach and cost-effective industry solutions to address current and emerging threats,” said Adrian Cunningham, CEO and founder from Amiosec. .
“Through this planned merger, we will utilize the talents of our combined workforce to drive greater disruptive thinking and expand our offering to our respective nations.”
Penten founder and chief executive Matthew Wilson said: “Penten and Amiosec recently celebrated their 10th anniversary.”
“Throughout that journey, both companies have worked in partnership to invent, deliver and scale our proprietary technologies.
“Focusing on cyber challenges that others avoid, we have worked together to maximize the value of our clients’ technology investments to drive real impact as we seek to protect those who protect us.”
Together, Penten and Amiosec have provided secure communications of classified information for defense and security customers across the UK and Australia with the AltoCrypt Mobility suite.
This year, Amiosec launched Penten’s AI-powered Active Cyber Defense solutions in the UK, providing network protection for governments and sophisticated corporations.
The merger is expected to provide greater scale and accelerate both companies’ contributions in the United Kingdom, Australia and their allied nations.
Subject to regulatory approvals, the combined company will have a significant presence in Australia and the United Kingdom, with a workforce of close to 300 employees.
Greg Barsby, Penten’s current chief executive, will lead the combined businesses as group chief executive, while Adrian Cunningham will remain as UK chief executive. Sarah Bailey, Penten’s current chief financial officer (CFO), will take on the role of group finance director.
“All companies in the defense sector describe themselves as innovative,” Barsby said.
“But few can match the innovation DNA and track record of Penten and Amiosec. Our combined workforce will support the delivery of customer solutions in cryptography, secure mobility, electronics and network engineering, artificial intelligence, electronic warfare, and RF communications security.
“Through this historic combination, we aim to deliver greater asymmetric advantage for our clients and greater opportunities for our people.”
The timing of the merger is subject to regulatory approvals and closing conditions. Fully funded for growth, the proposed merger transaction is backed by Penten investor Five V Capital.
