August 8, 2023
Theta Acquires Leading Cyber Security Firm Cybersmart; Broadens Expertise to Tackle Cyber Risks Faced by NZ Organisations
We're pleased to announce Theta's acquisition of Cybersmart, a well-respected Tauranga-based cyber security consultancy. As the ever-evolving landscape of cyber threats continues to challenge organisations across New Zealand, adding to our existing pool of talented security professionals is a significant milestone that will positively impact customers.
Rob Lee, CEO, Theta:
“Cyber security threats never sleep, and I’m sure that holds true for our Theta security team some days! We know that we need the necessary resources and expertise to ensure we can continue providing customers with high-quality security support. By expanding our team, we’re well-positioned to deliver innovative, scalable services while retaining our close customer relationships and an agile approach – which is vital in today’s environment.”
Cybersmart has, over the last seven years, become a trusted local security consultancy for customers in the Bay of Plenty and nationally. Their expertise in networking security and strong relationships with Palo Alto Networks and Juniper Networks significantly boost Theta’s capabilities. Cybersmart’s existing staff will be welcomed to Theta’s dedicated Cyber Security practice alongside its portfolio of customers in the communications, energy, local government, and logistics sectors.
Stephan van Lieshout, Director/Principal Consultant, Cybersmart:
“We’re super serious about helping our customers use modern digital tools and services securely and with confidence. In the online information environment, where modern threats are constantly evolving, this is a challenge that is daunting for many businesses. Together with Theta, we’ll be able to help more people and businesses across the country overcome their security challenges and concerns enabling business success and economic growth.”
Theta has been driving technology transformation for Kiwi businesses for over 28 years, with the Cyber Security practice evolving quickly. Now, under the leadership of Liz Knight, growth is accelerating, with specific focus areas, including analytics, training, and solutions to support internal IT and security teams, playing a pivotal role in driving this growth.
Liz Knight, Head of Cyber Security, Theta:
“We’re extremely fortunate and privileged to have such an experienced, capable group of security professionals joining our team. Welcoming a team of experts with such an extensive wealth of knowledge, who are so widely respected in the industry, enhances our capabilities and potential for growth and innovation.”
Chair Susan Paterson noted:
“This is Theta’s seventh acquisition over the past 13 years. In addition to significant organic growth, it furthers the companies’ goal to consolidate locally grown IT companies into a diverse, proudly Kiwi, and highly credible world-class IT consultancy.”
Theta’s acquisitions have included Inhouse BI, Prophesy, Designertech, IGA and Indigo. The acquisition of Cybersmart was made for an undisclosed sum comprising Theta shares and cash, with the official handover taking place on 7 August 2023.