Penten and Amiosec announce intention to merge

Canberra-based Penten and UK cyber company Amiosec announced they have reached agreement to merge the two companies. The merger is set to create a major provider of digital information security technologies for the UK, Australia and their allied nations, strengthening the AUKUS cyber industrial base. “We’ve heard directly from our customers: cyber-threats are escalating and increasing in complexity, they want innovative thinking, an agile approach and cost-effective solutions from industry to meet current and emerging threats,” said Adrian Cunningham, Amiosec CEO and Founder. “Through this planned merger, we will use the talents of our combined workforce to drive greater disruptive thinking and expand our offering to our respective nations.” “Penten and Amiosec each recently celebrated their tenth anniversaries,” said Matthew Wilson, Penten Founder and Executive Chairman. “Along that journey both companies have worked in partnership to invent, deliver and scale our proprietary technologies. Focusing on the cyber challenges that others avoid, we have worked together to maximise the value of our customers’ technology investments to deliver real impact as we seek to protect those that protect us.” Together Penten and Amiosec have revolutionised secure communications of classified information for Defence and Security customers across the UK and Australia with the AltoCrypt Mobility suite. This year Amiosec launched Penten’s AI-driven Active Cyber Defence solutions into the UK, delivering the leading edge of network protection for governments and sophisticated corporates. The merger will provide greater scale and accelerate both companies’ contributions across the UK, Australia and their allied nations. Subject to regulatory approvals, the merged business will have a significant presence across Australia and the UK with a workforce approaching 300 employees. Greg Barsby, current Penten CEO, will lead the combined companies as the Group CEO, whilst Adrian Cunningham will remain as Chief Executive UK. Sarah Bailey, current Penten CFO, will assume the role of Group CFO. “Every company in the Defence sector describes themselves as innovative,” said Mr Barsby. “But few can match the innovation DNA and track record of Penten and Amiosec. Our combined workforce will support the delivery of client solutions across cryptography, secure mobility, electronic and network engineering, Artificial Intelligence, Electronic Warfare and RF communication security. Through this landmark combination we aim to deliver greater asymmetric advantage for our customers and greater opportunity for our people.” 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. For Editorial Inquiries Contact: Editor Kym Bergmann at [email protected] For Advertising Inquiries Contact: Group Sales Director Simon Hadfield at [email protected]