Cyber security distributor Exclusive Networks is buying NEXTGEN Group, a channel services company focused on security, data resiliency and digital enterprise in Australia and across APAC.
Headquartered in Sydney, NEXTGEN was founded in 2011 and has 190 employees across the APAC region. In FY23, ending 30 June, 2023, NEXTGEN generated gross sales of AU$266m (€160m). It expects double-digit growth “for the years to come”.
“This value-enhancing transaction will make Exclusive Networks a clear go-to-market leader in Australia and New Zealand, generating commercial and financial synergies thanks to the complementarity nature of the two companies,” said Exclusive Networks.
Following the acquisition, Exclusive Networks' presence in Australia and New Zealand will be more than doubled, and, based on FY pro-forma figures, as of 31 December, 2023, the combined entity will have gross sales of around €615m in APAC.
Jesper Trolle, CEO of Exclusive Networks, said: “This acquisition is a major step forward in our growth strategy in APAC, it significantly strengthens our business and allows us to expand and develop further our value proposition.”
John Walters (pictured left of Trolle), founder and CEO of NEXTGEN Group, added: "After 13 years of building a business from startup, it is with great confidence and enthusiasm that we begin this new phase with Exclusive Networks. This step marks the start of an exciting new chapter in which our growth will be accelerated by the resources and expertise of a global cyber security leader."
The value of the acquisition has not been disclosed. It is expected to be completed in the second quarter of this year.
