Penetration testing firms Securus Global and HackLabs will merge with three consultancies and networking firms to form a new ICT company that will float on the ASX next month.
The new company, PS&C (People, Security and Communications), consists of Melbourne-based SAP integrator Systems and People, Allcom Networks, Allcom Consulting and the two security firms.
The acquired companies are bound by non-disclosure agreements but it is understood Securus Global and HackLabs will continue to operate under their business names and retain staff.
PS&C is expected to have over 300 consultants upon completion of the acquisitions.
Securus Global and HackLabs bring a combined 25 staff, and customers across supermarkets, gambling, banking and telecommunications sectors.
Systems and People brings 240 staff and contractors while Allcom brings 40 staff.
In its prospectus, PS&C said it would provide IT, telecommunications and security services. (pdf)
"These services include provision of professional contractors, contractor management, security services and provision and implementation of communications and network infrastructure," it said.
PS&C is forecasting a normalised net profit after tax of $5.2 million for the 12 months to June 2014, on revenues of almost $75.5 million.
In the last financial year, Securus Global and HackLabs pulled in a combined $5 million in revenues, with banking and financial services customers making up 36 percent of the total.
PS&C estimates the Australian security industry to be worth $2.1 billion annually.