Zerosecurity
  • Home
  • Security
    • Exploits
    • Mobile Security
  • Malware
  • Data Breaches
  • Crypto
  • Privacy
  • Downloads
    • Malwarebytes
    • Exploits
    • Paper Downloads
    • Software & Service Reviews
No Result
View All Result
SUBSCRIBE
Zerosecurity
  • Home
  • Security
    • Exploits
    • Mobile Security
  • Malware
  • Data Breaches
  • Crypto
  • Privacy
  • Downloads
    • Malwarebytes
    • Exploits
    • Paper Downloads
    • Software & Service Reviews
No Result
View All Result
Zerosecurity
No Result
View All Result
Home Security Information

Pure Hacking acquired by PS&C for $16.5m

Paul Anderson by Paul Anderson
August 27, 2014
in Information, Security
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Sydney-based cyber security firm Pure Hacking is now owned by IT consultancy PS&C for an initial $8.3 million, and a likely total up to $16.5 million.

You might also like

Downthem DDoS service owner gets a 2-year prison sentence

Cloudflare Stops Record-Breaking DDoS

Chrome Browser Extension Vytal Prevents Privacy Leaks

Pure Hacking will join other infosec firms Securus Global and HackLabs within the PS&C umbrella, that was formed in November this past year due to the merger of five companies. It floated on the ASX just after.

PS&C (People, Security and Communications) includes Melbourne-based SAP integrator Systems and People, Allcom Networks, and Allcom Consulting, plus the three security firms.

The organization is likely to make the Pure Hacking acquisition through two payments – a preliminary $8.3 million, paid half in cash and half in shares; and a second payment of 5.5 times Pure Hacking’s earnings for its 2015 financial year.

PS&C expects the firm’s FY2015 result to come in at between $2.5 million and $3 million, which may bring the next payment to between $13.75 million and $16.5 million, less the initial $8.3 million.

The overall purchase price will therefore sit between $13.75 million and $16.5 million.

Ten year-old Pure Hacking brought in around $2.1 million in earnings in the fiscal year 2014.

PS&C managing director Kevin McLaine told iTnews the company was looking to acquire a greater share of the “high growth and high margin” cyber security sector in order to create a high franchise value business.

“We are very bullish about the sector and we think there’s a lot of opportunity, and potentially more acquisition opportunity. We think there are benefits in being bigger and somewhat consolidating the industry in terms of economies of scale. That’s our plan,” he said.

The company will look to integrate Securus Global, HackLabs and Pure Hacking once the earn-out provisions of the initial agreements expire upon the reporting of Securus and HackLabs’ full year 2016 results.

The integration will be focused on creating a united front rather than as a cost-saving measure, McLaine said.

He also told iTnews he did not expect any of the 35 employees in the security division to be let go as a result.

“I don’t see the integration as losing billable headcount – one of the reasons is there’s a lot of work around, so the advantage of doing the integration is being able to share resources,” he said.

“It’s not a cost-saving exercise, it’s really about creating a united front-end to the market.”

Article original appeared on www.itnews.com.au

Tags: Computer securityPS&CSydney
Share30Tweet19
Paul Anderson

Paul Anderson

Editor and chief at ZeroSecurity. Expertise includes programming, malware analysis, and penetration testing. If you would like to write for ZeroSecurity, please click "Contact us" at the top of the page.

Recommended For You

Downthem DDoS service owner gets a 2-year prison sentence

by Christi Rogalski
June 30, 2022
0
Downthem DDoS Service owner sentenced

Matthew Gatrel, a resident of St. Charles, Illinois, has been sentenced to two years in prison for violating the Computer Fraud and Abuse Act (CFAA). The 33-year-old was...

Read more

Cloudflare Stops Record-Breaking DDoS

by Christi Rogalski
June 29, 2022
0
Cloudflare record breaking DDoS

Cloudflare has reported that it successfully neutralized the largest recorded DDoS attack in history. The attack, a 26 million request per second onslaught, targeted a customer on the...

Read more

Chrome Browser Extension Vytal Prevents Privacy Leaks

by Christi Rogalski
June 19, 2022 - Updated on June 20, 2022
0
Vytal Chrome Extension spoofs location data

Released in 2008, Google Chrome is a cross-platform web browser. With over 3.2 billion internet users worldwide, there's no denying that Chrome is the most popular browser today....

Read more

State-sponsored Iranian Hackers utilize .NET DNS Backdoor in new Attack

by Kyle
June 12, 2022
0
Lycaeum APT DNS hijacking backdoor

An Advanced Persistent Threat (APT) hacking group based out of Iran going by the name Lycaeum has been seen using a .NET-based DNS backdoor to target organizations within...

Read more

WatchDog’s new multi-stage cryptojacking attack unsurfaced

by Christi Rogalski
June 11, 2022
0
WatchDog Targets Docker Containers

Cado Security’s honeypot has recently captured a rather interesting cryptojacker from what they believe to be the WatchDog hacking group. They note that although the attack’s life cycle...

Read more
Next Post
Netflix releases internal threat monitoring tools

Netflix releases internal threat monitoring tools

Related News

Google Chrome Extension fingerprinting source

Google Chrome exposes user extensions to fingerprinting

July 1, 2022
Downthem DDoS Service owner sentenced

Downthem DDoS service owner gets a 2-year prison sentence

June 30, 2022
Cloudflare record breaking DDoS

Cloudflare Stops Record-Breaking DDoS

June 29, 2022
Zerosecurity

We cover the latest in Information Security & Blockchain news, as well as threat trends targeting both sectors.

Categories

  • Crypto
  • Data Breaches
  • DotNet Framework
  • Downloads
  • Exploits
  • Exploits
  • Information
  • Legal
  • Malware
  • Malware Analysis
  • Mobile Security
  • Paper Downloads
  • Piracy
  • Privacy
  • Programming
  • Public
  • Security
  • Security
  • Software & Service Reviews
  • Technology News
  • Tools
  • Tutorials
  • Video Tutorials
  • Whitepapers
  • Zero Security
  • Contact Us
  • List of our Writers

© 2022 ZeroSecurity, All Rights Reserved.

No Result
View All Result
  • Home
  • Security
    • Tools
  • Data Breaches
  • Malware
  • Privacy
  • Contact Us

© 2022 ZeroSecurity, All Rights Reserved.