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.