Australian private equity firm BGH Capital has launched CyberCX, a company that specializes in security assurance, incident response and digital forensics, managed security services and other cybersecurity services.

To build CyberCX, BGH Capital essentially acquired and consolidated the following Australian cybersecurity firms:

  • Alcorn.
  • Assurance.
  • Asterisk.
  • CQR.
  • Diamond.
  • Enosys.
  • Klein & Co.
  • Phriendly Phishing.
  • Sense of Security.
  • Shearwater.
  • TSS.
  • YellIT.

CyberCX is led by John Paitaridis, formerly managing director of Australian telecommunications firm Optus Business. It has an initial workforce of more than 400 cybersecurity professionals and over 20 offices across Australia, according to Australian Cybersecurity Magazine.

Also, CyberCX has named Alastair MacGibbon as its chief strategy officer, Computerworld reported. MacGibbon previously served as head of the Australian Cyber Security Centre.

Private Equity Firms Eye Growing Global Cybersecurity Market

In addition to BGH Capital's launch of CyberCX, other private equity firms recently have made moves to increase their global cybersecurity market presence, including:

Meanwhile, the global cybersecurity market is projected to expand at a compound annual growth rate of 12 percent between 2017 and 2024, according to industry analyst Market Study Report. This market also could exceed $300 billion in total revenues by 2024.