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ASX-listed Tesserent has acquired 25 per cent stakes in TrustGrid and AttackBound, a market report has confirmed.
Australian listed Tesserent announced that it has acquired a 25 per cent stake in the start-ups TrustGrid and AttackBound, having signed the necessary agreements on 28 April.
According to Tesserent’s ASX release, TrustGrid is a patented blockchain technology for “digital trust services”, with AttackBound providing artificial intelligence cyber threat awareness.
The announcement coincides with the TrustGrid’s assignment of Dmitry Samokhvalov to the role of head of engineering and product.
Tesserent confirmed that the company will be integrating the TrustGrid and AttackBound systems into their Cyber 360 program across Australia and New Zealand.
Co-CEO of Tesserent Julian Challingsworth outlined that the collaboration between Tesserent and promising start-ups is critical to the company’s future growth and shareholder value.
“Tesserent Innovation was founded to look for innovative and substantial technology start-ups to invest in for future global growth and added shareholder value, and I believe we’ve hit the ground running with TrustGrid and AttackBound as the first of many,” he said.
The 25 per cent stake in TrustGrid and AttackBound will be acquired through $1.5 million in cash and $1.5 million in Tessserent shares.
[Related: LexisNexis Risk Solutions acquires Accuity]
Liam Garman is the editor of leading Australian security and defence publications Cyber Daily and Defence Connect.
Liam began his career as a speech writer at New South Wales Parliament before working for world leading campaigns and research agencies in Sydney and Auckland. Throughout his career, Liam has managed and executed a range of international media and communications campaigns spanning politics, business, industrial relations and infrastructure. He’s since shifted his attention to researching and writing extensively on geopolitics and defence, specifically in North Africa, the Middle East and Asia. He holds a Bachelor of Commerce from the University of Sydney and a Masters of Strategy and Security from UNSW Canberra, with a thesis on postmodernism and disinformation operations.
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