Datacraft buys Security-Assessment.com for $5 million

Company is the second NZ security firm to go to offshore buyers this month

Asia Pacific services firm Datacraft, based in Singapore, has bought leading New Zealand security consultancy Security-Assessment.com for NZ$5 million, the second local ICT security firm to be sold this month. Datacraft announced today it has reached final agreement to acquire the business of Security-Assessment.com, to boost its ability to provide security services to clients across the Asia Pacific region. A conditional agreement was announced in early December. “The acquisition presents new opportunities and a wider geographic reach for Security-Assessment.com and will enable our team to further develop professionally,” Peter Benson, CEO of Security-Assessment.com, said in a statement. Earlier this month, Israeli firm Allot bought Esphion for US$3.5 million in cash plus US$2 million if milestones are met (totalling NZ$7.2 million). Benson told Computerworld today the deal begins the next phase of development for Security-Assessment.com, which is growth into Asia. "It's a really good validation and the next logical step," he says. Security-Assessment.com provides security audits, assurance, assessment, and advice, while Datacraft provides off-the-shelf technologies and custom work in penetration testing, vulnerability management and risk assessment. Datacraft’s General Manager of Security Solutions, Matthew Gyde, sees Security-Assessment as a complementary service adding to Datacraft’s current security practice. ”This is an immensely talented group of IT security consultants with sophisticated ethical hacking skills, high integrity and a strong sense of social responsibility. It is a rare find, and our clients in will welcome their expertise and dedication. The key focus will be to expand this practice regionally without compromising the team’s unique identity and extremely high standards,” Gyde added in today's statement. The financial impact of the acquisition of Security-Assessment.com on Datacraft’s financial year is not expected to be material.

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