WE SEE AN ENORMOUS MARKET AND GROWTH OPPORTUNITY TO DISRUPT AND CHALLENGE THE TRADITIONAL LARGE GLOBAL SERVICE PROVIDER MODELS .
INTELLIGENT BRANDS // Enterprise Security
CSO Group and xAmplify announce merger plan
Merger will create Australia ’ s largest home-grown cyber security and AI consulting group .
Australian cyber security business CSO Group and xAmplify , Australia ’ s leading automation systems and artificial intelligence ( AI ) integrator , have announced that they intend to merge .
The merger , expected to complete in the second half of 2024 , will create the nation ’ s largest Australian-owned and operated integrator of cybersecurity , AI , technology and business automation services .
Once complete , the merged business pitches delivery of some of the most innovative and digitally advanced AI , automation and cyber solutions to over 110 enterprise and government organisations across Australia spanning industries such as defence , federal and state government , energy , financial services , health , logistics , retail , construction and mining .
The new entity will be headquartered in Sydney and have a significant national presence with operations across every state
Michael Simkovic CEO and Founder CSO Group ( left ) with Wayne Gowland CEO and Co-Founder xAmplify and territory and a combined headcount of more than 160 staff .
Michael Simkovic , CEO and Founder , CSO Group , said : “ The merger of CSO Group and xAmplify will create Australia ’ s largest homegrown cyber security , AI and automation consulting business , with a gross turnover exceeding AU $ 100 million annually . We see an enormous market and growth opportunity to disrupt and challenge the traditional large global service provider models .”
“ This is a true merger of equals . The integration of the two businesses will create an amplifier effect , enabling us to deliver a new generation of innovative and integrated business solutions with the convergence of cyber security , automation and AI technologies . Ultimately this will bring more intelligence , optimisation and value to our clients , while also building greater Australian sovereign capability and expertise .”
The merger will enable government and corporate clients to access the capabilities of both CSO Group and xAmplify , spanning strategy , governance , risk and compliance , managed security , AI and both technology and business automation services . It will also bring a renewed cyber security lens to provision high performance IT service and sovereign-secure AI technologies .
Wayne Gowland , CEO and Co-founder , xAmplify said : “ This merger will create a fully integrated national business that will work across every state and territory , enabling clients to leverage AI , automation and cyber security to deliver greater innovation , efficiency , assurance , and business value . The business and technology worlds are changing rapidly , and our customers are wanting to transform and adopt the next generation of groundbreaking technologies in a safe and secure way . Together , we aspire to create a digitally advanced and protected Australia by helping clients to identify , solve and manage their real-world problems of today , while safeguarding them for tomorrow .”
Analyst group Gartner forecasts that Australian organisations will spend more than AU $ 7.3 billion on information security and risk management products and services in 2024 , an increase of 11.5 % from 2023 .
National spending on AI systems will grow to over AU $ 3.6 billion by 2025 , according to the Commonwealth Scientific and Industrial Research Organisation . p
WE SEE AN ENORMOUS MARKET AND GROWTH OPPORTUNITY TO DISRUPT AND CHALLENGE THE TRADITIONAL LARGE GLOBAL SERVICE PROVIDER MODELS .
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