Optic Security formed from NZ and Australian IT security companies

Six companies merge

A new NZ based IT security company, Optic Security Group, has been formed by the merger of six Australian and NZ-based IT security companies, claiming to be "Australia and New Zealand’s largest independent and most technically advanced physical, IT and information security group."

The newly formed entity brings together Australian-based companies Securities and Security & Technology Services and Bemac Security, and New Zealand-based physical security company Fortlock that recently acquired IT experts Comsmart, Circuit Systems and SSL. 

Bemac Security is a 30 year old Australian company specialises in the maintenance, design, supply and installation of security, access control, closed circuit television and building management systems.

There is an Australian company called Securities and Security & Technology Services based in the Northern Territory

Fortlock claims to be a provider of "cutting edge operational and IP network based security management solutions, delivering world class consultancy and support to some of New Zealand's largest retail, industrial, government, healthcare and commercial organisations, country wide." It acquired Wellington-based technology services company Comsmart in November 2017.

Optic Security claims the companies that constitute it have combined revenues in excess of $NZ100m, more than 200 employees across 10 different locations and almost 1,000 customers. 

Optic Security will be led by cofounder Jason Cherrington as group CEO. He claims more than 25 years experience in a number of multinational organisations including BT Group, Skype and Orange.

The other cofounder is Chris Guifre who is also executive director and a founding director, of Ascentro Capital Partners (New Zealand) and managing director of Wraith Capital Group (Australia).

Cherrington said the formation of Optic Security had been driven by "a particularly clear vision to create a trans-Tasman capability that has full geographic coverage across both markets and depth in technical and industry expertise to tackle these emerging challenges and deliver appropriate solutions to our customers."

He said the new entity would immediately be able to provide additional services to its customers and would also partner with other players in the market such as the Cyber Audit team in Australia that provides independent information security and cybersecurity assessment.

KPMG New Zealand provided M&A and transactions services advisory services; Mayne Wetherell and Gilbert Tobin provided legal services, and BNZ, ASB and Arena Investors LP supported Optic Security Group from a financing perspective.

 

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