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Nasdaq-listed Insight Enterprises has agreed to acquire Australian cyber security start-up Sekuro in a $5.3 billion deal.
Formed in 2021 following the merger of CXO Security, Naviro, Privasec, and Solista, Sekuro is a cyber solutions firm that works with organisations on creating tailored security solutions.
The company eyed going public on the ASX, but it stayed private to cater to its list of major clients, including Atlassian, Canva, and Salesforce. The company started with a workforce of 90, but it has since expanded to over 200 staff.
Alongside its services of designing, building and optimising cloud platforms for businesses, Sekuro provides 24/7 managed security, governance, and risk and compliance (GRC) services, specialising in Australian government IRAP assessments.
Insight Enterprises announced the acquisition earlier this week, but it did not go into deal regarding the terms of the acquisition.
“Sekuro would bring a team of deeply respected experts and a powerful portfolio of services that perfectly complement our existing capabilities,” said Mike Morgan, senior vice president APAC of Insight Enterprises.
“This acquisition will strengthen our position as the leading solutions integrator and enable us to deliver comprehensive security outcomes for our clients.”
The acquisition is expected to be finalised by early November 2025.
“We are incredibly optimistic about the potential of bringing Sekuro’s deep cyber security expertise into the Insight organisation,” Morgan said.
“Sekuro’s impressive track record and specialised skills in the APAC region align perfectly with our strategy to provide clients with end-to-end security solutions.
“We look forward to completing the transaction and, upon closing, welcoming the talented Sekuro team to Insight as we work together to help our clients build greater cyber resilience.”
Sekuro’s acquisition comes just months after its larger rival CyberCX was acquired by Accenture.
As seen by The Australian Financial Review, CISO Lens managing director James Turner said CyberCX was the dominant cyber professional service firm in Australia, beating out the big four auditing firms, while Sekuro was not featured as a top contender. Instead, it was concluded that Sekuro instead had only been impactful in the small and mid-market.
“Sekuro was trying to follow on the coat-tails of CyberCX in terms of the bundling of smaller companies to achieve something bigger than the sum of its parts, but Sekuro never seemed to hit that point of resonance with the market,” said Turner.
“A mid-market strategy is perfectly acceptable, provided you can operate at scale, and the numbers in the Sekuro filing with ASIC seem to indicate that was a struggle.”
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