Tesserent completes Secure Logic acquisition

ASX-listed security services firm Tesserent has completed its $10 million acquisition of Sydney managed services provider Secure Logic.
Tesserent said the deal adds Secure Logic’s $9 million turnover run rate and $4.2 million in earnings to its own balance sheet, as well as bolstering its government capabilities.
The deal was first announced in March, with Secure Logic joining Tesserent's Government practice group. Tesserent also became the strategic partner of ex-Secure Logic CEO Santosh Devaraj's new venture, TrustGrid.
The development comes as Tesserent reported record earnings, revenue and cash flow for the quarter ended 31 March 2021.
Tesserent saw its operational EBITDA increase to $1.7 million, up 21.4 percent year over year from $1.41 million.

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