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Australian digital defence innovator Penten and UK cyber innovator Amiosec have announced an agreement to combine their complementary capabilities.
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 founder and executive chairman Matthew Wilson said: “Penten and Amiosec each recently celebrated their 10th anniversaries.”
“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 supplied 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 network protection for governments and sophisticated corporates.
The merger is expected to 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, the current Penten CEO, will lead the combined companies as the group CEO, while Adrian Cunningham will remain as chief executive UK. Sarah Bailey, the current Penten chief financial officer (CFO), will assume the role of group CFO.
“Every company in the defence sector describes themselves as innovative,” Barsby said.
“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.”
The 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.
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