Tesserent has reinforced its Academy division with the acquisition of cyber security training business ALC Group for a total price of $5.8 million.
The Brisbane-headquartered ALC offers training courses to 3,600 people per year and administers relevant exams across 10 accreditation bodies and operates in Australia, New Zealand, Singapore and Malaysia.
Through the deal, ALC – which offers training courses to 3,600 people per year and administers relevant exams across 10 accreditation bodies – will be integrated into Tesserent Academy and become a “core part” of its offering, according to a statement on the Australian Securities Exchange (ASX).
It will also be expected to offer cyber security training course to existing ALC customers and employees as well as key clients of Tesserent Group.
The price of $5.8 million will be split into three parts – one-third, coming to $1.9 million, will be paid at completion, which is estimated to be by the end of February. The next third will be paid out on the finalisation of audited accounts for FY23 and the final third will be handed over when the audited accounts for FY24 have been finalised.
In a joint statement by ALC directors Zika Milenkovic and Catalina Lechner, the pair said the deal would see the cyber security training outfit provided “with immediate access to substantial resources and access to new opportunities that will allow us to continue our strong growth”.
The acquisition of ALC comes a month after Tesserent scored a $3 million deal with the State Library of Queensland for a digital archiving solution back in December.