Kordia is expanding its cyber-security portfolio, snapping up up Wellington-based Aura Information Security in a $10.2 million deal.
Aura provides specialist computer and network security services throughout New Zealand as well as in Australia and the United States.
Scott Bartlett, Kordia chief executive, says cyber-security is one of the single biggest challenges facing businesses globally and the acquisition is ‘outstanding' news for staff, stakeholders and existing and new Aura customers.
“It broadens the customer base for both organisations and positions Kordia as the leading cyber-security firm in New Zealand,” Bartlett says.
Kordia has been active in the cybersecurity market for a couple of years and has been growing footprint but says the Aura deal catapults it to becoming New Zealand's leading cyber-security business at a time when ‘there is unprecedented demand for services in this sector'.
“The recently published Institute of Directors Sentiment Survey showed that only 27% of New Zealand boards are confident of their ability to deal with a cyber-security incident,” Bartlett says.
“It highlights the risk to New Zealand business, and the need for the sort of expert, trusted advice that Aura provides.”
Bartlett says there is already strong demand for the services, and the growth curve is steepening.
“This acquisition equips Kordia to further advance our security strategy and meet the demands of our current and potential customer base,” he says.
“With Aura becoming part of Kordia, we are able to own the entire security process for our customers,” he explains.
Andy Prow, Aura founder, says he's excited about what the deal means for Aura and sister company RedShield. Kordia will become an agent for the RedShield web application shielding service in New Zealand and Australia.
“The new relationship we have with Kordia augurs well for the continued success of both companies, and of course our respective customers,” Prow says.
“Having Kordia as our partner here in NZ and Australia will massively grow our presence and capability locally and will help to further support and accelerate RedShield's global growth.
Aura will become a separate division within Kordia New Zealand and continue its current working relationships. All Aura personnel are being retained and key Aura staff members Mark Keegan and Peter Baily will join the Kordia executive committee in their current roles of consulting practice manager and manager service delivery respectively.