BGH to create Australia’s largest cyber firm

Perth-based Diamond Cyber Security and Asterisk Information Security will be two of at least 12 Australian cyber security firms bought out by BGH Capital and merged into a new entity to compete with the larger US-based vendors.

The new entity will be called CyberCX, and Business News understands that in addition to Diamond, BGH is set to acquire lcorn, Assurance, CQR, Enosys, Klein&Co., Phriendly Phishing, Sense of Security, Shearwater, TSS and YellIT.

CyberCX will be led by former Optus Business managing director John Paitaridis, who left the telco earlier this year to head BGH Capital’s IT division.

The transactions are still subject to regulatory approvals, and the total investment by BGH is undisclosed, with scope for more acquisitions.

Diamond Cyber, which is chaired by Michael Malone, has operated in Western Australia for five years, and South Australia for two years.

Diamond chief executive Sven Ross said the company would be joining a new venture to create Australia’s largest independent cyber security services company.

“CyberCX (is) a company founded on the principle of unifying the industry’s best talent, expertise and capability to deliver enterprise and government customers access to an unparalleled offering of cyber security services,” Mr Ross said.

He said the executive and managerial staff of Diamond would remain the same, and its existing contractual arrangements would remain in place.