US-based Insight acquires Australian cybersecurity consultancy Sekuro
Australian cybersecurity consultancy Sekuro has been bought by US-headquartered IT firm Insight just four years after its founding, having in that time grown to a headcount of more than 200.
Based out of Sydney, Sekurowas formed in 2021 through the roll-up of four boutiques, having since become one of Australia’s largest independent cybersecurity players with revenues pushing the $200 million mark and expansion into Asia and the UK.
The deal, the terms of which are yet to be disclosed, follows shortly on the heels of Accenture’s reported $1 billion-plus acquisition of fellow sovereign independent provider CyberCX, and will significantly expand Insight’s presence in Australia and the Asia Pacific.
“Sekuro will bring a team of deeply respected experts and a powerful portfolio of services that perfectly complement our existing capabilities.” said Insight’s Sydney-based Asia Pacific managing director Mike Morgan. “This acquisition will strengthen our position as the leading solutions integrator and enable us to deliver comprehensive security outcomes for our clients.”
Prior to joining Insight, Morgan was CEO of Intergen, which was acquired by Empired in 2014 and later became a part of Capgemini. He currently leads a team of approximately 500 techies stationed across Australia, New Zealand, Greater China, and Singapore, the number of which looks set to grow by one half when the Sekuro deal is settled as expected early next month.
Globally, Insight has a headcount of around 15,000 covering every major geography, with the almost 40-year-old Arizona-headquartered firm (originally a computer storage business dubbed Hard Drives International) today pulling in revenues in the region of $9 billion, according to its Nasdaq filings. It last pushed into Australia in 2016 through the purchase of Perth-based firm Ignia.
Meanwhile, Sekuro has Australian offices in Sydney, Melbourne, Brisbane, Adelaide, and Perth, with a wide array of cyber offerings across sectors in areas such as strategy & architecture, risk & compliance, 24/7 managed services, identity & access management, and data security & privacy. Major local clients include Aussie tech software success stories Atlassian and Canva.
With the deal still awaiting closure, the Sekuro team, led by CEO Noel Allnutt (co-founder of Solista, one quarter of the roll-up) and veteran industry chair Ian Buddery, have yet to comment, but Morgan concluded; “Cybersecurity is no longer just an IT issue; it’s a critical business imperative. Clients across the region are looking for a trusted partner to build resilience against sophisticated threats.”
Morgan continued; “Sekuro’s impressive track record and specialised skills in the Asia Pacific 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.”
