- 5G Networks Limited has acquired Security Shift Pty Ltd for AUD 4 million.
- Security Shift specializes in cybersecurity services, with a focus on compliance for critical infrastructures and public cloud technologies.
- The acquisition will bolster 5GN’s cybersecurity offerings and expand its service capabilities to a broader corporate clientele.
Details of acquisition
5G Networks Limited has acquired Security Shift Pty Ltd and its associated entities for AUD 4 million (approximately USD 2.6 million), representing a valuation of three times EBITDA or one times revenue. This strategic move is funded through existing cash reserves and the issuance of AUD 1.24 million (approximately USD 806,000) in shares, with a structured payment plan.
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Why Security Shift
Security Shift brings extensive experience in cybersecurity consultancy and managed services, focusing on critical infrastructure and compliance with government standards. Their longstanding expertise will be integral to 5GN’s efforts to enhance security offerings to its clients.
Impact of the acquisition
The acquisition allows 5GN to significantly enhance its cybersecurity services, including ‘Essential 8 audits’, to its large corporate customer base. With the addition of Security Shift’s team, 5GN is poised to expand its reach and service capabilities in the cybersecurity domain.
About 5GN
5GN is an Australian digital services company supporting over 2,500 corporate clients with a diverse portfolio that includes cloud services, data networks, data centre management, and digital marketing. The company operates a high-speed data network with presence in major Australian cities, as well as in Singapore, the USA, Hong Kong, and New Zealand. It offers cloud and data centre solutions and manages over 1,200 racks across its facilities in Melbourne, Sydney, Brisbane, and Adelaide. 5GN owns a 33% stake in Webcentral Pty Ltd, the third-largest domain and hosting provider in Australia, serving around 330,000 customers. The company focuses on building strong client relationships to enhance their online success.
