ASX-listed cybersecurity vendor ArchTIS has completed its acquisition of managed services provider Nucleus Cyber after 10 months.
The $9.75 million deal was first announced in October 2020 to help establish a US presence for ArchTIS as the company looks outward to become a global player.
Nucleus Cyber is a Microsoft, Dropbox and Nutanix partner that offers secure information protection solutions for government, enterprise and SMB customers. It has a development office in Melbourne and has been a frequent collaborator of ArchTIS.
“When we merged the companies in late-2020, we indicated that this would be a transformational combination for our shareholders and our overall market expansion,” ArchTIS managing director Daniel Lai said.
“And that has proven to be the case. The overall market fit, increase in new customers and partners, retention of existing customers, and the added experience of the Nucleus Cyber executive team has helped ArchTIS towards becoming the leading cybersecurity software development firm on the ASX.
“I could not be any happier with the integration. We look forward to further scaling this success and exploring other merger opportunities.”
In the ASX announcement, ArchTIS said it saw continued customer product adoption, technology innovation, customer satisfaction, sales distribution growth, market awareness and system integration between the company and Nucleus Cyber.
ArchTIS chief operating officer and former Nucleus Cyber chief executive Kurt Mueffelmann said, “Having completed over 20 merger and acquisition deals in my career, the integration with ArchTIS was one of the smoothest.
“With our combined complementary products, technologies and talent, we saw an opportunity to solve these industry challenges together on a global scale. It is a true testament to both teams’ ability to embrace the strategic vision of safeguarding the world’s most sensitive information while tactically executing on the highest levels of customer satisfaction, market awareness and operational efficiencies.”