NetLinkz to spend $10.2M on SSI Pacific
- 23 October, 2019 11:43
Publicly listed security and cloud network provider, NetLinkz has made an offer to acquire Melbourne-based system integrator and value added reseller, Security Software International (SSI) Pacific for $10.2 million.
SSI was founded in 2009 and specialises in lawful intervention, security and data retention system design, development, implementation, maintenance and support solutions.
SSI boasts its solutions are used in more than 100 countries with customers including bluechip telcos, enterprise, government, intelligence and law enforcement agencies.
The acquisition will be subject to obtaining consent from two of SSI’s major customers and key personnel executing ongoing consulting agreements, NetLinkz informed shareholders.
The purchase will be partly funded through debt and financing with 80 per cent payable on 30 November and the balance over the next two years. Ten per cent of the purchase price will be withheld as part of a clawback mechanism to protect against any breach of warranty, NetLinkz said.
It will also retain key staff, including SSI CEO, Samuel Py and CTO Stephane Molle, as well as access to all of SSI’s intellectual property, which will be synergistic with NetLinkz’s globally patented VIN (Virtual Invisible Network) software.
Netlinkz executive chairman and CEO, James Tsiolis, said the revenue generation opportunities from the acquisition were significant and provided a platform for SSI to globally expand its business into markets such as China and Japan.
Specifically SSI offers government agency support covering foreign and domestic electronic surveillance and covert operations; a monitoring centre with analytical tools, consoles and database mining; mediation and disaster recovery systems with system vendors, adhoc solutions and system integrations; network operator services that span interception handling requests, lease lines, IP, VPN, ISDN for law enforcement agencies as well as interception function systems with voice switch vendors, specialised equipment vendors and router manufacturers.