Business Sales Market Update

Publicly listed cyber security services provider Tesserent plans to acquire cyber security firm Loop Secure as a "strategic addition" to the company for a combined price of $13.5 million. Headquartered in Sydney and containing offices in Melbourne and Brisbane, Loop Secure offers managed security services, governance risk and compliance and offensive security services, as well as a security operations centre in Melbourne. The acquisition is being viewed as a “strategic addition to strengthen Tesserent’s Cyber 360 capabilities”, according to a statement published to the Australian Securities Exchange (ASX), with synergies and opportunities expected through its corporate relationships and skills.

Fixed wireless and wholesale network infrastructure provider Swoop has acquired its fifth telco in less than six months, picking up Sydney-based VoiceHub Group for $6 million in total. One of the two businesses within the group is VoiceHub, which offers wholesale voice services, unified communications, virtual numbers, SMS messaging solutions and advanced networking across Australia and New Zealand. The other business is inbound, connectivity and communications services provider Harbourtel, which also operates in the A/NZ region.

An Australian luxury lighting retailer that imports direct and sells online with $3.85 million revenue, four staff and $2 million profit. Number 1 in their category, it’s a simple operation, has great cash flow, and has room to penetrate markets across states further. Each product comes in a box that is imported from overseas. The same box is then shipped to the customer making for an easy operation and low costs. The business operates from a showroom/warehouse in Victoria, where all products are on display. There is a strong amount of online orders, an exclusive product range, meaning almost no direct competition for the same items, and exceptional gross profit margins.

Publicly listed cloud call recording service provider Dubber has inked a deal to acquire Brisbane based technology group Notiv in a deal worth $6.6 million. Previously owned by US based holding company Pinch labs, Notiv develops cloud-native artificial intelligence (AI) based products designed to help turn meetings into transcribed notes, summaries, signals, actions and more. It is hoped the integration of the Notiv business into Dubber will expose the capability of the Notiv offering to a global customer base and allow the Notiv team to develop a continuous stream of revenue-generating services for Dubber’s addressable market.

An Adelaide-based accounting and wealth advisory firm has expanded its private wealth division following the purchase of a financial advice company. Perks has made the move after acquiring Wotherspoon Wealth, reporting the expansion has placed Perks Private Wealth as one of South Australia’s largest privately-owned wealth management firms. As part of the transaction, Wotherspoon co-founder and director Simon Wotherspoon has become a director of Perks Private Wealth. Perks Private Wealth director Simon Hele said the acquisition will position the firm well through disruptions to the Australian wealth industry, particularly in a post-COVID landscape.