Tesserent - Passionate about security
Our team of Security Engineers design your security architecture and monitor your network 24/7/365.
What is a channel partner – International and CyberBiz
- Tesserent generates revenue either directly through clients, or through channel partners.
- We examine the different types of channel partners and how these relationships are mutually beneficial.
Managed security as a service – Industry overview
- For protection against cyber attacks business can either directly employee staff to work for the company, or alternatively outsource to third parties or what is otherwise known as Managed Security-as-a-Service.
- We review the benefits of the industry, its size, trends, future potential and Tesserent’s position.
Cyber security industry – Market overview
Review of the current size and future potential of the global cyber security industry.
Board of Directors
Robert Langford
Non-Executive Director and Chairman
Qualifications – BSc Computing
Robert has over 40 years of IT experience, starting his career as a Cobol programmer with Royal Insurance in Melbourne, through to roles as senior system architect and project director with Mobil Oil in the UK European mainland during the early 90’s. Since 2002 Robert has owned and run various business in Australia ranging from IT to cattle farming. Robert was a founding partner of Tesserent Australia Pty. Ltd
Keith Glennan
Managing Director
Qualifications – B. Tech, MACS, MAICD
Board member since 2015, Managing Director of Tesserent Australia Pty Ltd (a subsidiary of Tesserent Limited) since 2012.
Keith has been working in the IT industry for three decades, and has worked in Australia and the United States for companies such as Hewlett Packard and IBM.
He has been involved in the managed security industry since 2002. In late 2012 Keith acquired control of and took the Managing Director role at Tesserent Australia. In this position he formulated the strategy of developing the MSSP Platform and the current business strategy.
Gregory Baxter
Non-Executive Director
Qualifications – BSc MBA
Board member since 2015. Greg is currently Global Head of Digital at Citibank, leading Citi’s digital transformation across businesses and geographies.
He specialises in the development and delivery of digital strategy, corporate innovation and business transformation.
He has held senior business, consulting and technology roles across Asia, Europe and North America, with a track record of high-impact business results. Previously Gregory was a Partner and U.K. Board member at Booz & Company (formerly Booz Allen Hamilton), where he held leadership roles across the financial services, public sector and digital practices.
Prior to this he was a senior project and product manager with IBM, delivering large scale systems integration projects in financial services and managing the product lifecycle of leading market solutions. He is a regular speaker on digital strategy and technology, and the impact of disruptive innovation on business. Greg is a council (board) member of Chatham House (Royal Institute of International Affairs), a leading international affairs think tank.
He holds a BSc from Monash University and a MBA from the University of Melbourne, and has been a guest lecturer on strategy at the University of Oxford, New York University, and American University (Washington).
Stefano (Steve) – Bertamini
Non-Executive Director
Qualifications – BBA MBA
Board member since 2015. Steve is currently Chief Executive Officer of Al Rajhi Bank, a bank with total assets in excess of US$70 billion.
Steve previously held the position of Group Executive Director and CEO for Global Consumer Banking at Standard Chartered Bank.
Prior to this Steve’s roles included: Group Executive Director and CEO Consumer Banking at Standard Chartered Bank; Chairman & Chief Executive Officer of GE North East Asia; Chief Executive Officer and President of GE (China) Co. Ltd; Chief Executive Officer of GE Australia and New Zealand; President of GE Capital Asia; and Managing Director of GE’s Consumer Finance business in Asia.
Steve has a BBA, Finance and Management from The University of Texas at Austin and an MBA, Finance and International Banking from University of North Texas.
Management Team
Keith Glennan
Managing Director
Keith has been in the IT industry for over 30 years and operating in the managed security business since 2002. Keith formulated Tesserent’s current business strategy and has been CEO since 2012.
David Buerckner
Head of Security Operations
David has over 30 years experience in the IT sector. David spent more than 15 years at IBM in key roles. More recently, David has held a variety of leadership roles at Interactive Pty Ltd and has been responsible for large projects such as ISO27001 certification, and the establishment of an internal MPLS network.
Karen Negus
Head of Sales and Marketing
Karen is an experienced business executive with over 16 years experience in Marketing and Sales within the IT and Telco sectors. Karen held several management positions at Telstra before owning and operating her own retail telecommunications business. More recently Karen was responsible for Check Point Software Technologies' SMB sales and marketing in A/NZ.
Justin Owen
Chief Financial Officer
Justin is a highly qualified and results driven finance executive with over 25 years experience in financial and business performance management. With significant experience as CFO and adviser to ASX listed companies Justin is able to draw on his experience and industry expertise as part of the Tesserent Leadership Team.
Valuation Analysis
- We initiate coverage on TNT with a valuation of $0.25 / share.
- This video reviews our sale, revenue, costing assumptions as well as the valuation methodology applied.
Risk – Are cyber attacks impossible to stop?
- Despite millions of dollars being spent on cyber security by Government & major organisation cyber attacks on these groups is common, which leaves the rest of the market to wonder how they could protect themselves from attacks.
- We discuss with Tesserent how business can best protect themselves from cyber attacks and if there is a breach what steps should be taken.
What is the MSSP platform?
- Tesserent has developed the MSSP platform, which addresses the primary security functions of an organisation’s computer network, and includes features such as a firewall, content inspection and intrusion detection.
- We discuss with the company further what the platform is and who it works.
Cyber threat to SME & CyberBiz
- SME are increasing under threat of cyber attacks and are arguably more affected as an estimated 60% of SME go out of business within 6 months after an attack
- In response to this growing demand Tesserent has launched their CyberBiz product, aimed specifically at SME organisation initially in Australia.
- TNT will use channel partners to help promote their CyberBiz product to business.
Privacy Amendment Act – What does it mean for Australian businesses?
- The Australian government recently passed the Privacy Amendment Act of 2017 which went into effect in February 2018.
- We examine how this legislation will potential effect Australian businesses.
TESSERENT SIGNS BINDING TERM SHEET TO ACQUIRE INNOVATIVE ICT COMPANY, STRENGTHENING MARKET POSITION, REVENUE, AND PROFITABILITY
Tesserent is pleased to announce that it has signed a binding terms sheet (subject to conditions precedent referred to below) to acquire innovative ICT company, Asta Solutions Pty Ltd (“Asta”). Asta is an Australian-based business with more than 200 clients serviced by around 85+ staff from offices in Melbourne, Sydney, and Auckland. Asta has developed significant expertise in a number of areas important to Tesserent's strategy, including cloud technologies, managed services, and blockchain application development. The acquisition fulfils a key strategic need and will underpin the next stage of the company's growth.
Keith Glennan, Founding CEO of Tesserent said: “This is an important step forward for Tesserent. Having worked with Bill and his team since last year, we are confident that this transaction will result in a business that is uniquely placed in the market and will generate significant long-term value for our clients and shareholders. Our plan when we listed on the ASX in 2016 was to look for the right opportunities to grow through acquisition and we are delighted to enter into this deal with Asta, which delivers a combined business with significantly greater revenue, more than 100 staff, and an enviable client list.”
Bill Angelidis, CEO of Asta commented: “With are thrilled to join the Tesserent team. Security has been a missing piece of from our strategic vision. I feel like this is a 20 year dream come true, and am excited about what we will achieve together!”
RATIONALE FOR ACQUISITION
Furthering Tesserent’s successful strategic initiative to expand into the growing market for secure managed networks, the company recognised the need to address security in related high-growth market segments such as cloud and blockchain. By deploying core security technology throughout the fabric of a customer’s IT infrastructure, Tesserent strengthens its position as “trusted partner” with its customers. Over a 19-year period, Asta has also built deep trust relationships with its customers and assists those customers with the roll-out of new technologies. With the adoption of new technologies, security is often a major consideration. The new joint business will be able to offer a breadth of technology, underpinned by deep security expertise.
Tesserent signed a partnership agreement with Asta in November 2017 (announced on the ASX on 20 November 2017) as a first step in exploring this strategy. In working together, the two companies have been able to develop and validate a business model around the two companies' complementary technologies and skill sets.
Synergies expected from the combined businesses will include;
- highly complementary, client base, offering and vision;
- a significant opportunity for cross-selling of products and services into the combined 400+ customer base;
- significant internal efficiencies;
- improved economies of scale; and
- enhanced workforce capability and alignment.
Both organisations have a strong track record of innovation. Future innovation will focus on revenuegenerating blockchain development, cloud facilitation, further development of the company's core security platform, and the deployment of cutting-edge software-defined networking solutions.
Asta’s existing and forecast strong revenue, cash and EBITDA performance, will enable the business to further accelerate growth.
Supporting the strategic and tactical synergies, the acquisition will also provide for increased staff career development and recognition opportunities.