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Canberra-based cyber technology company, archTis has formally announced it has successfully completed the acquisition of advanced information protection provider, Nucleus Cyber as part of a multi-million dollar acquisition process.
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According to the terms of the agreement, archTIS will acquire a 100 per cent stake in Nucleus Cyber in an all-stock deal for a total consideration of $9.75 million (US $7.1 million).
In conjunction with this acquisition, archTIS also announced it has raised a funding placement of approximately $8.4 million via the ASX exchange and will use the new funds to accelerate the growth of the combined businesses.
As part of the deal, key senior executives from Nucleus Cyber have agreed to join the archTIS senior management team and archTIS will continue to maintain and operate Nucleus Cyber’s existing Boston headquarters. Additionally, Kurt Mueffelmann, former CEO of Nucleus Cyber, will lead global operations for archTIS as its new chief operating officer.
Daniel Lai, CEO of archTIS said, “The acquisition of Nucleus Cyber is transformative for archTIS as it instantly expands our global footprint and delivers access to the expansive and lucrative Microsoft partner ecosystem which has been diligently cultivated by the Nucleus team.”
Founded in 2018, Nucleus Cyber was started with a singular mission: to ensure that data-driven security is at the core of the modern workplace. The company’s flagship solution, NC Protect, utilises dynamic, data-centric security that leverages both file and user attributes to automatically find, classify and secure unstructured data, enabling customers to better protect against insider threats from data loss, misuse, unauthorised access and simple human error.
“With the addition of the Nucleus Cyber product and team, we are now one step closer towards establishing archTIS as the world’s premier provider of policy enforced access control platforms for securing and sharing digital information. Having known and worked with the Nucleus Cyber team through our previous channel partnership, we are excited to welcome them to the archTIS family,” Lai added.
The ability to secure sensitive information has become an urgent priority over the past year as the global pandemic has forced millions of employees to work from home.
A recent survey shows data loss has also spiked in the wake of remote work, stemming from downloads of “classified” company information and increases in the number of files being shared in chats and messages.
With 74 per cent of companies surveyed by Gartner planning to permanently shift some of their personnel to remote work, this new reality presents a long-term information security challenge for many organisations.
Kurt Mueffelmann, global COO of archTIS and former CEO of Nucleus Cyber added, “The two teams at Nucleus Cyber and archTIS share a long and productive history as well as a common approach of applying Attribute Based Access Control (ABAC) technologies that ensure sensitive information is properly secured.”
Nucleus Cyber, an archTIS Limited company, is a provider of advanced information protection solutions that prevent data loss and protect against insider threats. The company’s NC Protect solution leverages existing technology investments to provide a simpler, faster and cheaper solution to tailor information protection for file sharing, messaging and chat across collaboration tools.
archTIS Limited is an award winning, global technology company focused on protecting sensitive information. Leveraging its strong pedigree with government and Defence, the company has developed industry-leading information security platforms for sharing and collaborating on sensitive or classified information.
