Hivint will boost Optus cyber-security advisory services in Australia and potentially across APAC region, says GlobalData
Optus Cyber Security, a wholly-owned subsidiary of Singapore Telecommunications, has recently signed an agreement to fully acquire Australia-based cyber security consulting firm Hivint. The deal will help Optus to gain trust with enterprise customers through consulting engagements in Australia and potentially across the Asia-Pacific (APAC) region, says GlobalData, a leading data and analytics company.
Hivint provides a suite of security professional services including technical, governance, risk and compliance services. It has a ‘Security Colony’ SaaS platform offering a library of information security management system (ISMS), policies, standards and templates. The Melbourne-based start-up’s advisory services will be integrated into Singtel’s wholly-owned Trustwave’s managed security offerings across Australia and APAC.
Siow Meng Soh, Technology Analyst at GlobalData, says: “This is a positive move for Singtel and Optus because while Hivint is a relatively young company, it has built a credible team of cyber-security specialists across Brisbane, Melbourne, Perth and Sydney, and gained strong market traction. The acquisition of Hivint helps to ramp up Optus’ cyber-security advisory capabilities in Australia.”
Cyber-security is a major concern for companies looking at transforming their business using digital technologies. They need technology partners that can provide guidance on cyber-security. With stronger capabilities to offer advisory services, Singtel/Optus are better placed to sell digital solutions (e.g., big data analytics and IoT) to large enterprises and government organizations.
Soh adds: “Hivint’s knowledge base and the systematic approach to reuse material that it has created for various clients means that the company can offer professional services more cost-effectively. This is important for Singtel and Optus as they attempt to grow the security business and customers are looking for advice on cyber-security preparedness instead of just another piece of security technology.”
However, retaining staff will be a major challenge for Singtel/Optus since people are the main asset of Hivint. Since the company’s business is mainly in Australia, it is practically unknown in the APAC region and it does not have strong credential in supporting governance and compliance in other countries.
Soh concludes: “While Singtel can tap into Hivint’s expertise for professional services in the region, it will be more costly to do so compared to having security consultants on the ground. Nevertheless, this does give Singtel the possibility to replicate Hivint’s business model and the Security Colony platform elsewhere across the APAC region.”
