CyberCX expands into New Zealand with $30 million investment
Within a year of founding in Australia, cyber security consultancy CyberCX has expanded into New Zealand.
To setup its new operation in New Zealand, a cyber security market estimated to be worth NZ$600 million, CyberCX has made around NZ$30 million available for investments. A sizeable part of the investment will go towards the opening of offices in Wellington and Auckland, and the setup of a dedicated security operations that will serve local and trans-Tasman clients.
Further down the line, CyberCX plans on opening an office in Christchurch, and if all goes to plan, the firm will have a workforce of more than 100 on the ground in New Zealand by the end of next year, said CyberCX CEO John Paitaridis.
The chief executive added that the New Zealand operation will mirror the firm’s mature Australian service portfolio. “We will introduce a full suite of cyber security services to protect and defend New Zealand’s businesses, enterprises and government agencies from global and local cyber threats.”
According to a statement, CyberCX will offer comprehensive end-to-end services covering key cyber security domains: consult and advisory; governance, risk and compliance; incident response; penetration testing and assurance; security integration and engineering; and managed security services. The local wing will also provide cloud and mobile security, and identity management services.
“New Zealand is a natural market focus for CyberCX. With the exponential growth in the number of cyber attacks on New Zealand businesses and government agencies, and the aggressive tactics we are seeing from threat actors, there is a large need to bolster cyber capability to secure the interests of companies and governments, in particular critical infrastructure including utilities, agricultural, financial systems, logistics and supply chain,” said Paitaridis.
He added that, similarly to in Australia, CyberCX positions itself as an integrated, local alternative to the global giants. “It is time that New Zealand had its own cyber security company, a national champion at scale, able to defend and protect local businesses and economies. For too long we have relied on international companies for cyber services, where their interests don’t always align.”
To lead the new division, CyberCX – which is private equity backed – has appointed Grant Smith as CEO New Zealand. He previously founded Gen2 Consulting and DMZ Global, and brings extensive experience in the field to the firm.
Smith: “Increasingly government and industry in New Zealand are looking for a local trusted cyber security partner. CyberCX is committed to lifting the country’s national resilience and is focused on maintaining an independent stance, agile ways of operating and core cyber focus.”
