"Amalgamation of CSO Group and xAmplify Announced"
In a significant move for the Australian tech industry, the cybersecurity business CSO Group is set to merge with xAmplify. This merger aims to create Australia's largest home-grown cybersecurity, AI, and automation consulting business.
The merged business will have a significant national presence with operations across every state and territory. The new headquarters will be based in Sydney, and the combined headcount is expected to exceed 160 staff.
Michael Simkovic, CEO and Founder of CSO Group, sees an enormous market and growth opportunity with the merger. He believes that the merged business will serve over 110 enterprise and government organisations across Australia, catering to various industries such as defense, federal and state government, energy, financial services, health, logistics, retail, construction, and mining.
Wayne Gowland, CEO and Co-founder of xAmplify, echoes similar sentiments, stating that the merged business will work across every state and territory. He also emphasises the merged business's goals align with the current market demand for transformation and adoption of new technologies in a secure manner.
The merged business intends to facilitate the safe and secure adoption of the next generation of groundbreaking technologies. It will deliver digitally advanced AI, automation, and cyber solutions, with a renewed focus on cybersecurity for the provision of high-performance IT services and sovereign-secure AI technologies.
The new CEO of the merged company will be Michael Lynch, who is set to lead the organisation as it becomes Australia's largest domestic cybersecurity, AI, and automation consulting firm. The parties expect to complete the merger in the second half of 2024.
The annual gross turnover of the new entity is expected to exceed AUD100 million. The merged business aims to help clients leverage AI, automation, and cybersecurity to deliver greater innovation, efficiency, assurance, and business value.
This merger is expected to create a fully integrated national business, enabling government and corporate clients to access the capabilities of both CSO Group and xAmplify. The merged business will work towards helping its clients navigate the complexities of the digital age, ensuring a secure and efficient transition to the next generation of technologies.
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