IT security distributor Hemisphere Technologies has been acquired by Hong Kong business investor Harry Cheung, while director Peter Phokos has left the company.
Phokos said he was "not a part of Hemisphere Technologies’ new business model".
Hemisphere managing director Andrew Mamonitis has become a shareholder, while Cheung has assumed the role of company chairman. Both executives have previously worked for Kaspersky, in different regions, and have a close relationship.
Cheung was president of Information Security One, a Chinese developer of computer software and packaging. He was also the managing director of Beijing-based Gloryson Technology, the sole distributor of Trend Micro in China.
In 2008, Cheung became Kaspersky Lab's Asia-Pacific managing director. According to Hemisphere, while at Kaspersky, Cheung invested his own capital in the company in order to achieve the "huge business goals" he set for himself.
Hemisphere will see a "significant injection of capital" and, through Cheung's "extensive experience and regional networks, a significant increase in the size of the distributor’s reach across the APAC market", according to the company.
"Having had a lot of experience and exposure to the Asia-Pacific and the Australian market in particular, in both a vendor and distribution capacity, I’ve taken the decision to directly invest in Hemisphere Technologies’ future," Cheung said.
Hemisphere's priority for 2017 will be on its networking partners. The company also announced plans to hire a senior operations director; a channel manager and further additions to its sales team.
"Our focus will remain on the Australian and New Zealand market, and our new reach will be used entirely to the benefit of our local channel partners," Mamonitis said.
Cheung currently maintains an investment portfolio within the IT security space, as well as investments in medical technologies, lifestyle mobile applications, and has a distribution business with exclusive rights to Acronis’ technologies across Greater China.
This means Hemisphere will have access to both a "well-established" channel and the potential for increased technology offerings.
"We’ll be able to provide our channel partners with access to increased market opportunities, as well as the tools required to drive profitability and growth," Mamonitis added.