Company Details

Tesserent Ltd (ASX:TNT)

ASX Listed
ASX Listed, Mature Stage

Company Information

  • Executive Summary

    Executive Summary

    Tesserent Ltd (ASX: TNT) provides Internet security services to help organisations defend against cybercrime. The company has developed a security infrastructure platform, known as the MSSP Platform, which enables delivery of Security-as-a-Service (‘SECaaS’) on a subscription basis to small and large organisations to protect their computer networks.

    Tesserent directly provides Security-as-a-Service to customers in Australia and internationally, and has also appointed Channel Partners in Hong Kong, South Korea, United Kingdom, and the UAE, who in turn use the MSSP Platform to provide Security-as-a-Service to their own customer bases. Gartner forecasts the SECaaS market will grow to US$27 billion per year within the next four years.

    Tesserent and its Channel Partners provide Security-as-a-Service to over 190 organisations located in 11 countries and territories. Customers in Australia include organisations such as BMW, Toyota, Nintendo, The Good Guys, Reece, and Maxitrans.

    Tesserent listed on the ASX in Feb 2016 after closing its IPO oversubscribed at $7m.

    Proprietary Platform

    • Tesserent’s proprietary platform allows SECaaS providers to service thousands of end users from a single management portal and security operations centre.
    • While the MSSP Platform was developed in-house, it also utilises technology and security data feed arrangements with some of the leading cyber security companies in the world, including Cisco, Webroot, Spamhaus, and SURBL.
    • Depending on the customer’s requirement, the technology can be delivered in the cloud, or as a software or hardware appliance.
    • The platform has a high level of automation built into it, which reduces traditional operating costs (fewer security engineers) and reduces security incident response times.

    Channel Model

    • Tesserent has proven its channel model, with established Channel Partners in Hong Kong, South Korea, United Kingdom, and the UAE, who in turn provide Security-as-a-Service to their own customer bases using Tesserent’s proprietary platform.
    • The company’s growth strategy includes licensing the proprietary to telecommunications and ISP channel partners.

    Influential Customer List

    • Tesserent provide Security-as-a-Service to over to over 190 organisations in 11 countries and territories.
    • Customers in Australia include BMW, Toyota, Nintendo, The Good Guys, Reece, and Maxitrans.
    • Tesserent provides protection for a large number of educational institutions, including influential schools such as MLC, Scotch College, Melbourne Business School, and The King’s School.
    • Tesserent provides protection for local government, state, and federal government bodies.

    Highly Reputable Board

    • Extremely experienced and influential board.
  • Company Highlights

    Company Highlights

    • Addressing a rapidly growing market (worldwide Security-as-a-Service market is forecast to grow from US$12.5 billion in 2014 to US$26.9 billion in 2019, a compound annual growth rate of 16.5%)
    • Subscription-based recurring revenues, FY2015 Pro forma of $3.7m
    • Highly scalable proprietary platform
    • Direct sales and channel partner model
    • Well positioned to accelerate growth and scale the business
  • Board & Management

    Board & Management

    Russell Yardley

    Russell Yardley

    Chairman
    Over 35 years of entrepreneurial and corporate experience in the IT sector. He is a non-executive Director of a number of organisations including chairman of Readify Limited and Folk Pty Ltd.
    Keith Glennan

    Keith Glennan

    Managing Director
    Has been in the IT industry for over 30 years and operating in the managed security business since 2002. Keith has been Tesserent’s CEO since 2012.
    Steve Bertamini

    Steve Bertamini

    Non-Executive Director
    Currently CEO of Al Rajhi Bank, a bank with total assets of over 70 billion USD. Steve was formerly CEO of GE Australia and New Zealand and CEO of Consumer Banking at Standard Chartered Bank.

    Currently CEO of Al Rajhi Bank, a bank with total assets of over 70 billion USD. Steve was formerly CEO of GE Australia and New Zealand and CEO of Consumer Banking at Standard Chartered Bank.

    Greg Baxter

    Greg Baxter

    Non-Executive Director
    Currently Global Head of Digital at Citibank in New York. Previously a Partner and U.K. Board member at Booz & Company.
    Paul Brandling

    Paul Brandling

    Non-Executive Director
    Currently a director of ASX-listed Vocus Communications (previously a NED of Amcom). Former Managing Director of Hewlett Packard South Pacific.
  • Company News
  • Contact Details

    Contact Details