Adrian Johnson
TLDR:
- Spirit Technologies acquires Forensic IT for $7.6 million in cash and shares to enhance cyber security capabilities.
- The acquisition aims to integrate incident response and digital forensics services to provide a robust end-to-end cyber security solution.
Spirit Technologies, an ASX-listed company, has recently acquired Melbourne-based Forensic IT for $7.6 million in a combination of cash and shares. The acquisition, set to be finalized in October, is part of Spirit’s strategic plan to enhance its defensive cyber security offerings through its cyber division, Infotrust. This acquisition follows Spirit’s previous mergers of Intalock in 2020 and Infotrust earlier this year, which combined a cutting-edge Security Operations Centre (SOC) with governance, risk, compliance, and engineering practices.
The integration of Forensic IT’s incident response capabilities with Infotrust’s existing services will add highly skilled professionals in incident response and digital forensics to the team. This will enable enhanced capabilities such as data recovery and expert witness testimony, expanding the team to a total of 115 members. The acquisition is expected to bolster Spirit’s defensive cyber security services for mid to enterprise-level businesses across various sectors, particularly in Sydney and Melbourne.
Julian Challingsworth, managing director of Spirit Group, emphasized that the acquisition aligns well with their strategy to provide clients with a comprehensive cyber security solution. Luke McCarthy, owner of Forensic IT, expressed pride in being acquired for their incident response and digital forensic capabilities, highlighting the expertise and dedication of their team. Overall, the acquisition of Forensic IT by Spirit Technologies aims to strengthen their position in the cyber security market and enhance their service offerings for clients.
