Securus, Hacklabs, Pure Hacking and Certitude make up PS&C’s Security business. The graph segments by industry sector the combined revenue received by Securus, Pure Hacking and Hacklabs during the 2016 financial year.
The Security business’ revenue in the year ending 30 June 2016 totalled $12.5 million. This revenue was sourced from diverse segments of the economy.
The cyber security industry in Australia is somewhat fragmented and populated by a handful of small companies supported by very high level specialist skills. Whilst our Security businesses offer similar products and services, each work independently and in differing market segments. The security industry in Australia is estimated to be worth more than $2.1 billion annually.
There are a variety of services offered by the Security businesses including penetration testing (programmed hacking events designed to isolate security breaks in the client’s IT systems), red teaming (physical penetration of facility security), mobile application testing, payment card security systems, compliance, as well as executive coaching and training. The primary objective of the cyber security teams is to isolate weaknesses in the client’s environment and then be able to implement systems and or processes that strengthen the environment. Additionally, the Security segment also provides governance and risk services in Information & IT Security, Business Continuity & IT Disaster Recovery, IT Audit & Assurance, and IT Project Governance.
In addition, products and tools offered include:
The Security business is well positioned within a growing market as cyber security becomes more of an issue for customers outside of the financial services industry. The changes to the Privacy Act whereby make it necessary for companies to report data breaches and this has driven further growth in the cyber security market.
The industry has a number of small service providers and consolidation through acquisitions presents an array of opportunities for PS&C. The Security business may also benefit from Panel and Preferred Supplier Agreements of other business units.