22 November 2023
Organisational cyber attacks are up by 450% this year. as hackers take advantage of vulnerabilities in a more complex, remote workforce.
Organisational cyber attacks are up by 450% this year. as hackers take advantage of vulnerabilities in a more complex, remote workforce. As a result, large organisations have been prioritising investments to fortify their cybersecurity systems.
Having just added an additional $1 billion to its already large cybersecurity budget, the Federal Government recently released a report that spoke to a core need – a one-stop-shop for cybersecurity.
As a full service cybersecurity firm, Tesserent (ASX: TNT) is that one-stop-shop.
With a current market cap of around $200 million and over $100 million in forecast turnover for 2021, Tesserent is the largest listed cyber company on the ASX.
It has a broad client base within government (especially defence, federal government agencies and law enforcement), critical infrastructure and industry and financial services.
“We set about building this organisation to be the leading firm in Australia. We saw a clear need. It was a very fragmented landscape with a large number of small organisations and there wasn’t that single organisation at a scale, that government departments and mid and large tier companies could turn to for all their security requirements,” said Co-CEO Julian Challingsworth when he spoke on ‘The Insider’.
In the coming year, Tesserent is set to exceed the $300 million market cap. It will also be making more acquisitions.
“We’ve got two new acquisitions in due diligence at the moment. All going well, they should be joining the team in the next couple of months. We’ve got a really robust pipeline of future acquisitions that can add breadth of geography and capabilities to ensure we really are that full service firm,” said Julian.
“We’ve achieved some great things but we’ve really just got to the start line. We’ll look to continue to build out our enterprise value and shares,” he added.
Last week, Tesserent Co-CEO Julian Challingsworth joined us for ‘The Insider’ (previously Meet The CEOs). You can watch a recording of the session below, or you can click here to book into our next session where we will be joined by Rural Funds Group (ASX: RFF), Pureprofile (ASX: PPL) and Prescient Therapeutics (ASX: PTX).
‘The Insider’ is a great way to hear directly from the CEOs of fast growing Australian businesses. You will get valuable insights to their industries and companies future prospects.
The Insider – Event Details:
Date: Wednesday, 4th November Time: 12 pm AEDT Format: Online, 3 x 15 minute presentations
This is a free event. Click here to book your spot.