Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Optic Security Group launches

Optic Security Group launches to serve the converging security needs of customers

Merging six leading trans-Tasman security companies under one umbrella

Auckland, 4th December, 2018 – Optic Security Group has been launched today through a merger of six entities with combined revenues in excess of $100m. The new company which will operate across New Zealand and Australia brings together the combined capability and expertise of industry-leading security businesses to form ANZ’s largest independent and most technically advanced physical, IT and information security group.

The newly formed entity brings together leading physical security company Fortlock who recently acquired IT experts Comsmart, Circuit Systems and SSL along with Australian based companies Securities and Security & Technology Services and Bemac. The group members were carefully selected over a 12 month period to ensure complementary capabilities in respect of geographic coverage and industry expertise, and alignment with respect to market reputation and strategic aspirations to deliver clients a fully converged IT security proposition – a globally emerging trend that is driving industry growth by over 10%.

Optic Security will be led by Group CEO, Jason Cherrington who says, we are all living in a more connected world, where organisations are operating in an environment with increasing demand, more volatility and more complexity. Safe guarding people, information and technology has become much more complex and this rapidly changing risk profile is making the need to protect critical infrastructure against both physical and digital threats an absolute imperative.

“The formation of the Optic Security Group will enable us to meet the needs of customers as converging security requirements grow and become more complex, be they physical or digital. These threats are now exposing Directors to a complex liability that if not mitigated successfully lead to significant financial, criminal and brand damaging outcomes that Boards have to be fully aware of, and then protected against. That’s our purpose. We also had a particularly clear vision to create a trans-Tasman capability that has full geographic coverage across both markets and depth in technical and industry expertise to tackle these emerging challenges and deliver appropriate solutions to our customers – now achievable with a scale presence in both New Zealand and Australia” says Cherrington.

Optic Security Group will bring unparalleled resource capability across both countries and will hit the ground running with over 200 employees across 10 different locations serving the needs of close to 1,000 existing customers. The new company will be led by a senior leadership team that has a wealth of international experience and sector expertise that will ensure customers have access to the best resources and latest leading technologies from around the world. There will be no change in the management at a business unit level within each of the six respective business units (all significant shareholders in Optic) and the group provides a wealth of career growth opportunities for the employees of Optic.

Cherrington says that the new company will immediately be able to provide additional services to the existing customers of the companies under the Optic Security umbrella. The company will also partner with other leading players in the market such as the Cyber Audit team in Australia who provide independent information security and cybersecurity assessments.

Chris Giufre, Managing Director of Ascentro Capital Partners, a New Zealand Investment firm co-founded the Optic Security Group with Cherrington, both of whom will join the existing shareholders of the six businesses on the Optic shareholder register and become members of the Board.

KPMG New Zealand provided M&A and transactions services advisory to lead the execution of the transaction. Mayne Wetherell and Gilbert Tobin providing legal services, and BNZ, ASB and Arena Investors LP supporting Optic Security Group from a financing perspective.

ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Stats NZ: Falling Prices In June Quarter Amid COVID-19 Uncertainty

The consumers price index (CPI) fell 0.5 percent in the June 2020 quarter as the COVID-19 global pandemic saw cheaper petrol and falling hotel and motel prices, Stats NZ said today. It was the first fall in quarterly inflation since the December 2015 ... More>>

Transport: International Arrivals In May Lowest In 61 Years

The number of people that arrived in New Zealand in May 2020 was the lowest for any month since May 1959, because of COVID-19-related border and travel restrictions, Stats NZ said today. There were 5,600 arrivals in May 2020 compared with 4,700 in ... More>>

ALSO:

It’s All In The Genomes: New Study Reveals Scale Of Havelock North Campylobacteriosis Outbreak

When the campylobacteria outbreak hit Havelock North in 2016, no-one fully understood how widely it affected the local communities. Gene-sequencing technology used by scientists has shown the true scale of the outbreak. The joint study from ESR, Massey ... More>>

ALSO:

Tiwai Point: Rio Tinto Announces Plans To Close Tiwai Point Smelter

Rio Tinto has just announced that it will wind down New Zealand Aluminium Smelters - the Tiwai Point smelter - saying the business is no longer viable. More>>

ALSO:

Freight: New Report On Auckland Port Relocation

The Government has released a major new report on the options for relocating the Port of Auckland’s freight operations while deferring any decision on the issue. More>>

ALSO:


XE Data Update: RBNZ Official Cash Rate Decision

The RBNZ will keep the Official Cash Rate (OCR) at 0.25%. T he key points in the RBNZ statement are: RBNZ keeps the OCR unchanged at 0.25% Maintain the LSAP (large scale asset purchase) at NZD$60 billion. Committee prepared to use additional monetary ... More>>

ALSO:

Electricity: Kiwis Ignore Promise Of Cheaper Power

Electric Kiwi and Flick Electric Co are joint winners of Canstar Blue’s award for Most Satisfied Customers | Electricity Providers From putting on an extra layer – rather than turning on a heater – to turning off lights and choosing the energy-saving ... More>>

ALSO:


ASB: Regional Economic Scoreboard Q1 2020

ASB NZ Regional Economic Scoreboard Gisborne still the place to be It has been Gisborne’s year, and the region comes out tops on our regional rankings for the fourth successive quarter. Like everywhere, question marks are about the COVID-19 impact on the future. ... More>>

RNZ: Economic Activity And Business Confidence Bouncing Back

Two surveys from ANZ show business confidence and economic activity have rebounded, but uncertainty about the future remains extreme. More>>

ALSO:

NIWA: The Climate Record That Keeps Getting Broken

Among the multitude of New Zealand climate statistics there is one record that continues to be broken month after month. Since January 2017 there has not been one month that recorded a below average nationwide temperature, according to NIWA’s seven station ... More>>

ALSO:

Govt: Extended Loan Scheme Keeps Business Afloat

Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year. The Small Business Cashflow Loan Scheme has already been extended once, to 24 July. Revenue and Small ... More>>

ALSO:

Science: 2019 Prime Minister’s Science Prizes Announced

The 2019 Prime Minister’s Science Prizes have been announced in a digital livestream event today. The Prizes recognise the impact of science on New Zealanders’ lives, celebrate the achievements of current scientists and encourage scientists of the ... More>>

ALSO:

Stardome Observatory: Young Kiwi Astro-Photographer Shoots For The Stars

Matariki by Josh Kirkley. The stars are aligning for up-and-coming Auckland-based astro-photographer Josh Kirkley (Kāi Tahu). During lockdown, one of his images was picked up by NASA and shared on the space agency’s Instagram to its 59.2 million ... More>>


DCANZ: Time For EU To Commit To A Level Playing Field For Trade

The Dairy Companies Association of New Zealand (DCANZ) has welcomed New Zealand Trade Minister David Parker’s statement that it is unacceptable for New Zealand exporters to continue facing an ‘unlevel playing field’ in the EU. Details leaked ... More>>

ALSO:

New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>

ALSO: