CyberCX launches: 400-strong cybersecurity consulting firm
A group of twelve cyber security firms have joined forces to establish Australia’s largest pure cyber security company. Backed by private equity firm BGH Capital, CyberCX has 400 staff in over ten offices across Australia.
In a bid to build a leader in the rapidly growing cybersecurity space, BGH Capital merged together twelve niche cyber security brands – Alcorn, Assurance, Asterisk, CQR, Diamond, Enosys, Klein&Co., Phriendly Phishing, Sense of Security, Shearwater, TSS, and YellIT – into one ‘superbrand’.
“Organisations need a cyber security partner with a consultative end-to-end approach. A partner who is independent, understands the intersection between risk and technology, and has the expertise, scale and know-how to confront any cyber threat. CyberCX will have boots on the ground across Australia supporting customer when and where they need us,” said John Paitaridis, who has been appointed chief executive officer of the 400-strong group.
Paitaridis brings a wealth of experience to the role. He formerly was the chief executive of Optus Business, the b2b division of Optus, the second largest telecommunications company in Australia. After spending seven years in the top role, he left the telecom giant in March this year to join BGH Capital, one of the country’s largest private equity funds.
At BGH Capital, he leads the firm’s technology, media and telecommunications practice, and additionally, he now has been put forward as the new boss of CyberCX. Commenting on the firm’s move into cybersecurity, Paitaridis pointed at the growing need for cyber expertise and support services.
“Cyber security risk should be a number one priority for business owners, senior executives and board directors as organisations increasingly embrace digital connected technologies. It is clear that many businesses, enterprises and government organisations are not yet well enough advised, supported or equipped to defend their mission critical assets.”
CyberCX positions itself as a full-service provider, capable of helping its clients with consultancy, risk and compliance, security assurance, system integration, digital forensics, training and education and managed security services. The firm currently has offices in Sydney, Melbourne, Brisbane, Canberra, Adelaide and Perth. In the coming months, several other physical hubs will be opened to build a national footprint.
John Paitaridis and Alastair MacGibbon
Another top executive that has committed his support to newly launched CyberCX is Alastair MacGibbon, appointed chief strategy officer. MacGibbon was the government’s national cyber security advisor until he departed in May. He previously led the Australian Cyber Security Centre (ACSC) and was a special adviser to the prime minister on cyber security.
The move comes at a time when growing threats and impacts is seeing the cyber security industry boom. According to one analyst firm, the global cybersecurity market is projected to reach a market value of over $300 billion by 2024, on the back of a compound annual growth rate of 12% in the coming five years.
MacGibbon: “Cyber security is a global problem that is growing. It is the greatest existential threat we face as a society. The reach of cyber threats is pervasive, from websites, email and mobiles, to cars, financial systems, power grids, industrial systems and the internet of things. There is no safe harbour.”
