CyberCX Acquires Cybersecurity Solutions Provider Basis Networks
CyberCX, a company that specializes in security assurance, incident response, digital forensics and managed security services, has purchased Australian cybersecurity solutions provider Basis Networks for an undisclosed sum. The news comes after CyberCX recently acquired identity and access management (IAM) services provider Identity Solutions.
The CyberCX-Basis Networks agreement is M&A deal 281 that MSSP Alert and ChannelE2E have covered so far in 2020. See the complete M&A deal list here.
The Basis acquisition strengthens CyberCX’s position as Australia’s leading cybersecurity services provider, CEO John Paitaridis asserts. It enables CyberCX to deliver Basis cloud solutions and secure network infrastructure to Australian organizations, as well as protect these organizations against cyberattacks in the midst of the coronavirus (COVID-19) pandemic.
CyberCX Acquires Basis Networks: About the Seller
Basis provides network and security technology designed to help organizations drive digital transformation, according to the company. It offers a variety of cybersecurity services, including:
- Compliance: Automates compliance management and reporting.
- Security Architecture: Helps organizations manage complex, regulated and hybrid networks.
- Segmentation: Delivers zero-trust protection to help organizations defend against current and emerging cyberattacks.
In addition, Basis provides network intelligence to help organizations monitor, analyze and resolve network issues, the company noted. Basis also offers SD-WAN, SDN, cloud networking, data center networking and application delivery services.
A Closer Look at Australia’s Cybersecurity Market
Along with CyberCX, several companies recently have made strides in the Australian cybersecurity market, including:
- Airlock Digital: The application whitelisting solutions provider this month added $1.3 million in funding.
- Deloitte: The Top 200 MSSP in March acquired information security company Zimbani and integrated the business into its Australia cyber practice.
- Vectra: The AI-based threat detection and response platform provider last year established regional headquarters in Sydney, Australia.
Australian cybersecurity spending totaled $3.9 billion in 2018, according to the AustCyber cybersecurity growth network. This figure also is projected to reach $270 billion by 2026.