Tesserent announces Recent Business Advancements

Tesserent is pleased to provide shareholders with an update regarding recent business advancements as the company continues to execute their business plan and focus on core business of managed security services.

KEY TAKEAWAYS: 

• The company has recently improved its cash position by $234,000 following the sale of 1,000,000 Family Zone Cyber Safety (ASX:FZO) shares.
• Tesserent received these shares as part of the Sonar/MyNet IP Sale (refer ASX Announcement 16th December 2016).
• In summary, the extra cash inflows for the June quarter are expected to be as follows:
  • $234K from the sale of FZO shares;
  • $2M from the sale of IP to FZO (of which $1M has been received in April 2017 with the final $1M expected by 30 May 2017); and
  • $300K to be received in relation to the company’s ATO R&D claim.

• This ensures that Tesserent is in a strong cash position going forward.

Tesserent continues to expand its go-to-market strategy by introducing a Small and Medium Business (SMB) focused suite of managed security services. Tesserent’s view is that the SMB market has not been well serviced and it is a significant growth opportunity due to the limited choice of managed security services offered to this market.

Tesserent is launching a range of SMB focused managed security services that are designed to provide SMBs with peace-of-mind, knowing that their network is being protected by a team of security experts. Tesserent’s services will provide enterprise-grade managed security for SMBs and assist SMB customers to meet their obligations under the Privacy Act and the recently announced Data Breach Notification legislation.

In response to customer demand, Tesserent has partnered with Carbon Enex to provide a range of professional security consultative services. This is also an opportunity to grow the sales pipeline as security consulting engagements identify new managed security opportunities.

Tesserent CEO Keith Glennan said “Market opportunities in the cyber security space continue to evolve, which is why we need to continually review and expand our product offerings. In the last six months, we have engaged with AlienVault, Palo Alto Networks, and Carbon Enex as key business partners. These partnerships enable us to provide leading technology to our customers in conjunction with Tesserent’s proprietary platform and managed service overlay. Our managed service offering continues to set Tesserent apart from our competitors, by providing locally managed, 24/7/365 monitoring and support from our primary Security Operations Centre in Melbourne. Likewise, the SMB space is largely untapped and we are excited about being able to profitably provide an enterprise-grade security solution to this market.”

Tesserent is a specialist in managed cyber security. Tesserent manages direct end-customers in Australia while also offering a managed security service to wholesale channel partners globally, enabling them to deliver effective cyber-security management to their end-customers.

For more information, please visit the company’s web site at www.tesserent.com

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