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Thales to Buy Tesserent for $119.1M to Aid Australian Growth

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Tesserent’s $125.1M Business Will Extend Thales’ Services Capabilities in Australia

Michael Novinson (MichaelNovinson) •
June 13, 2023    

Thales to Buy Tesserent for $119.1M to Aid Australian Growth

A French conglomerate plans to purchase Australia’s largest publicly traded cybersecurity company to expand its cyber service delivery capability in the high-growth Oceania market.

See Also: Live Webinar | Breaking Down Security Challenges so Your Day Doesn’t Start at 3pm

Paris-based Thales said its proposed acquisition of Melbourne-area Tesserent will allow the company to accelerate its cybersecurity development road map and boost its footprint in Australia and New Zealand. The $119.1 million transaction will add 500 Tesserent employees focused on providing cybersecurity services to midsized and enterprise-level organizations in verticals such as government and defense (see: Thales Buys OneWelcome for $101.6M to Enter CIAM Market).

“Thales Australia will establish an Australian/New Zealand leader in cyber defense able to best protect the country and its national infrastructure from cyberthreats,” said Thales Australia CEO Jeff Connolly. “The Tesserent team will have access to global expertise and a strong balance sheet to provide local Australian and New Zealand businesses both a sophisticated and wide cybersecurity offering.”

Tesserent was founded in 2015, employs 435 people and had revenue of $125.1 million in 2022. The company’s stock is up $0.048 – or 126.4% – to $.081 per share since the proposed deal was announced, which is the highest Tesserent’s stock has traded since Jan. 30. Thales offered to acquire all outstanding shares of Tesserent stock at $0.88 per share and will keep the brand when serving Australia and New Zealand.

Addressing Government, Defense Cybersecurity Needs

Thales’ cybersecurity team generated $1.62 billion of sales in 2022 and focuses on data security, identity and access management, encryptors and sensors, and services such as risk assessment, attack detection and response, and training and simulation. Extending Tesserent’s services skills to existing Thales customers in Australia and New Zealand will enable the company to capitalize on double-digit growth in the region.

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“Together, we will address the growing cyber needs in our country, including those of the Australian government and defense sectors,” Tesserent CEO Kurt Hansen said in a statement. “I am convinced that this transaction would represent a great opportunity to further grow Tesserent’s business and its people.”

The acquisition is supported by all members of Tesserent’s board. It is subject to Tesserent shareholders and court approval and is set to close during the second half of 2023. Before the Tesserent acquisition, Thales served cybersecurity customers in more than 50 countries with 4,000 workers across 20 nations, including nine global security operations centers. Thales has generated $1.08 billion in Australian sales.

“Tesserent’s customers are expected to benefit from Thales’ enhanced product suite, global services capabilities and the acceleration of Tesserent’s existing growth,” Tesserent Chairman Geoff Lord said in a statement. “Tesserent staff are further expected to have increased opportunities to develop new skill sets and access to new networks including international mobility.”

Acquisitions Are Central to Capability, Geographic Expansion

Tesserent shareholders will vote on the acquisition in September, and the company must retain at least 85% of its key management during the period leading up to court approval. Tesserent doesn’t have a “go-shop” period where it can seek offers from other interested suitors, and both Thales and Tesserent are on the hook for a $1.8 million breakup fee if action on their end leads to the collapse of the deal.


“Together, we will address the growing cyber needs in our country.”


– Kurt Hansen, CEO, Tesserent

Both Thales and Tesserent have relied heavily on acquisition to grow the breadth of their cybersecurity portfolio. Thales last year purchased European customer identity and access management supplier OneWelcome for $101.6 million as well as S21sec and Excellium to provide cybersecurity consulting, integration and managed services to organizations in Spain, Portugal, Luxembourg and Belgium.

“We continue to accelerate our global cybersecurity strategy and consolidate our leadership in cybersecurity, both for critical infrastructure as well as multinational companies,” Connolly said in a statement.

Since 2019, Tesserent has bought Splunk specialist Rivium; digital and technology consulting firm North; government-focused managed security services provider Secure Logic; governance, risk and compliance provider Loop Secure; system development life cycle firm Claricent; mitigation specialist Pearson; and cybersecurity training business ALC Group. Nine percent of Tesserent shares are controlled by directors.





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    Automating Security Auditing and Compliance

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    Educating Employees with Security Awareness Training

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    To achieve their goal, ethical hackers immerse themselves in the expanse of security breaches, exploits, and vulnerability scenarios. They leave no stone unturned. Their goal is to protect organizations from malicious attacks, ensuring that the digital fortress remains untouchable.

    Don't underestimate the importance of ethical hacking. As the world becomes increasingly interconnected, cybersecurity has never been more pressing. According to a report by Emergen Research, the cybersecurity industry is expected to expand at a compound annual growth rate (CAGR) of 12.0% to 13.4% from 2022 to 2030. This surge in demand reflects the critical importance of ethical hackers in fortifying digital infrastructure against the relentless onslaught of cyber threats.

    Embracing the Journey: Continuous Learning and Certification for Ethical Hackers

    Becoming an ethical hacker requires diverse skills and knowledge. Understanding the types of hackers is crucial, as it provides insights into how they operate. Armed with this knowledge, ethical hackers delve into cutting-edge tools and techniques. They leverage their skills to identify vulnerabilities and devise countermeasures.

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    The Tools of Ethical Hacking

    Curious about the tools an ethical hacker uses? They have access to a diverse range of tools. These tools allow them to probe and analyze digital systems, uncover weaknesses, and assess the resilience of security measures. While the specific tools vary based on the objectives and preferences of individual ethical hackers, there are several standard tools they employ. 

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    References:

    "Cybersecurity Market, By Component (Hardware, Solution, Service), By Security Type, By Solution, By Application (IT & Telecom, Retail, BFSI, Healthcare, Defense & Government, Manufacturing, Energy, Others), By Region Forecast to 2032". Www.Emergenresearch.Com, 2023, https://www.emergenresearch.com/industry-report/cyber-security-market. Accessed 25 May 2023.

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    Cyber Insurance: An Essential Safety Net

    Like any insurance, cyber insurance covers financial losses related to cyber incidents. This can include costs associated with data recovery, notification of affected parties, legal fees, public relations efforts, business interruption, and even extortion payments demanded by hackers. In essence, cyber insurance is designed to help a company recover from a cyber attack by mitigating the financial impact. It provides an essential safety net that can make the difference between a company going out of business and staying afloat after a cyber-attack.

    Coverage Tailored to Your Business

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    The Rising Importance of Cyber Insurance

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    Cyber Insurance - An Investment Worth Making

    Investing in cyber insurance is like putting on a seatbelt while driving. It doesn't prevent an accident, but it can significantly mitigate the damage if one occurs. Cyber insurance is an essential part of a comprehensive risk management strategy, providing financial protection and peace of mind in a digital age fraught with cyber threats. Regardless of your business size or industry, having cyber insurance can help you navigate the aftermath of a cyber-attack by protecting your financial resources.

    PSL’s Easy Guide to Understanding Cybersecurity

    The world of cybersecurity can often feel like a maze of technobabble and obscure acronyms. Yet in an era where our lives increasingly depend on digital infrastructure, it's important to have a basic understanding of the terminology involved. Learning about cybersecurity can help you avoid common mistakes and limit the chance of becoming a victim of these crimes.

    Here is an overview of common cybersecurity terms.

    1) Cybersecurity

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    2) Malware

    Malware is any malicious software that can damage or infiltrate computers without the user's consent.

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    Virus

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    Worm

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    Trojan

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    Ransomware

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    Spyware

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    3) Phishing

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    4) Firewall

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    5) VPN (Virtual Private Network)

    A VPN masks your internet protocol (IP) address to make your online actions nearly untraceable. VPN services establish encrypted connections to provide much greater privacy while using the internet.

    6) Encryption

    Encryption converts data into a code to prevent unauthorized access. When data is encrypted, it appears as gibberish unless you have the decryption key to convert it back to its original form.

    7) Two-Factor Authentication (2FA)

    2FA is a common security process in which users must provide two different authentication factors to gain access to an account. For example, in addition to a password, you might also need to enter a code sent to your phone.

    8) Darknet/Dark Web

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    9) Data Breach

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    10) Botnet

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    Closing Thoughts

    Understanding cybersecurity is not just for the tech-savvy; it's for everyone. We are all potential targets for cyber threats, and comprehension of basic cybersecurity terminology can make a significant difference in safeguarding ourselves and our digital assets.

    Employing cybersecurity measures also helps to keep your digital data safe. This might include using a VPN, enabling two-factor authentication, or simply being wary of suspicious emails to prevent phishing attacks.

    Ultimately, it's not necessary for everyone to be a cybersecurity expert, but a basic understanding of the key terms can be an empowering first step in better securing your digital life. This newfound knowledge can provide you the confidence to navigate the online world with more safety and assurance.