ASX listed security vendor Tesserent is buying Brisbane head-quartered infosec training company ALC Group, which operates nationwide and in New Zealand, Singapore and Malaysia.
ALC offers cybersecurity, IT, project management and governance certifications to around 3600 people a year, and has been active for 25 years.
It also administers exams across 10 accreditation bodies.
Tesserent said the ALC deal is based on a multiple of four times sustainable earnings, set to $5.8 million, with an earn-out of $1.5 times on incremental earnings in the full financial 2023 year.
The security vendor said the ALC buy for its Academy training division is intended to build a profitable business in the cyber security training space in the Australasian market, and to deliver a pipeline of high quality talent for Tesserent itself.
A Tesserent spokesperson told CRN AU that it has a strong working relationship with 102 governmenet organisations across Australia and New Zealand currently.
In December, the security vendor signed a multi-year contract with the State Library of Queensland to deliver a secure digital archiving solution, similar to what the company is providing for the State Library of New South Wales.
The Queensland library contract is worth $3 million over five years, Tesserent said.