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.

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.

Telstra’s IT services division, Telstra Purple, has acquired internet of things (IoT) specialists Alliance Automation and Aqura Technologies to bolster its capabilities in the field and expand into more verticals. Brisbane-based Alliance Automation bills itself as one of Australia’s largest independent providers of IoT industrial automation solutions and control systems, specialising in technical advisory and design, electrical and automation engineering, cybersecurity services and more. Perth-headquartered Aqura is a subsidiary of ASX-listed surveying services company Veris, and specialises in technology and telecommunications infrastructure solutions.

ASX-listed IT and communications services provider Comms Group has announced it has acquired Gold Coast-based onPlatinum ICT for $12 million. Founded in 2012, onPlatinum specialises in IT, security, consultancy, communications and print services across Queensland and New South Wales. Its vendor partners include Microsoft, AWS, HP, VMware, amongst others. Comms Group said the acquisition would strengthen its position in the corporate midmarket and expand its presence in the Queensland market. onPlatinum will also provide additional product and service offerings to Comms Group’s customer base.

Atturra Limited, formerly FTS Group, has announced it has acquired Brisbane-based managed services provider and ERP specialist Kettering Professional Services for $3 million upfront. The acquisition is the IT services company’s first since going public on the Australian Securities Exchange in December 2021. Kettering, which has been named in the 2010, 2018 and 2019 editions of the CRN Fast50, specialises in the implementation, management and ongoing support of ERP solutions in the manufacturing sector, specifically with vendor QAD Inc. Kettering is also the vendor’s sole Australian channel partner.