The brand names might not be big but the sticker price sure is.
Two Australian cybersecurity firms, Azimuth Security and Linchpin Labs, have been snapped up by New York communications and intelligence company L3 Technologies for a combined price of $313 million.
Azimuth rose to prominence in 2015 when it exposed flaws in Apple’s AirDrop tool and a “serious memory corruption vulnerability” in the supposedly secure Blackphone.
The combined purchase price includes a potential earn-out for stakeholders of up to $43 million.
“Azimuth has developed an international reputation for excellence in the rapidly growing
space of information security,” said Bartier Perry Corporate & Commercial head Michael
Cossetto, who advised on the deal.
“Azimuth have done an incredible job in building an international reputation over a short
period of time,” he said.
Linchpin Labs, which has offices in Australia, Canada, the UK and US, also provides data and security services.
L3 Technologies, which employs over 30,000 people worldwide, provides solutions for military and commercial platforms.
The acquired companies will operate under L3’s intelligence, surveillance and reconnaissance systems business segment as L3 Trenchant.