UXC Limited, a wholly owned subsidiary of UXC Consulting, has finalised the acquisition of information and cybersecurity professional services organisation Saltbush Group.
With annual revenue of AU$12 million and a total of 66 staff members, Saltbush is a firm that provides assurance, consulting, development, solutions, and training within the information security and online security sectors.
The company is also Australia's only Registered Training Organisation, and is a PCI DSS qualified security assessor (QSA) for the Australian market, with QSA accredited staff in Canberra and Sydney.
UXC managing director Cris Nicolli said the acquisition will enhance the company's position in the growing online security space, in particular the federal government market.
"Organisations are increasingly concerned with information and data security and the occurrence of cyber threats. Every boardroom and every IT manager should be aware of the potential impacts that such breaches can cause," he said in a statement.
"Cybersecurity has been identified by the government as a high-priority national security issue, which could have a significant impact on Australia's national security. Cyber espionage has emerged as a serious and widespread concern, and one that will continue to gain prominence due to the ongoing digitisation of data and increasing reliance on the internet and technology in commercial, governmental, and military business."
The acquisition will be paid for by a combination of cash and shares, and will be immediately earnings accretive. UXC said consideration will be based on an upfront payment, together with an earn-out period over two years. UXC has not disclosed the value of the deal.
The directors of Saltbush jointly said that the acquisition will enable Saltbush to continue to exercise the level of agility it needs to be responsive to its customers.
"We wanted an Australian-wide partnership to gain access to complementary services that our clients regularly request. We are excited to be part of such a well-organised and strong company," they said.