Cipherpoint Limited (ASX:CPT), Sydney, Australia – Cipherpoint is pleased to announce that it has
completed the acquisition of 100% of Brace168 Pty Limited.
Brace168 builds innovative IT and cyber security solutions that work seamlessly across business and
enterprises or government agencies. Its customers are across the financial property, manufacturing,
technology and health sectors (including both ASX50 and ASX200 companies). Cipherpoint’s products
will be offered to those customers.
Brace168 is now a subsidiary and integral part of Cipherpoint. It is our intention to continue to operate
Brace168 as a separate business unit complementing Cipherpoint’s software business unit. Brace will
continue to trade under its existing name to ensure a smooth transaction and to allow the focus to
remain on business as usual. Customers/clients must come first given that our joint focus must be to
ensure the security and safety of their digital environments.
The Brace168 team has advised it is on track to achieve strong year on year growth in recurring
revenues. Key customers in property and banking have agreed to renewals with upside from an
expansion of services. Additional team members are being recruited for business development and
customer success. The Brace168 sales pipeline continues to build.
Matt Miller will be COO and Greg CISO of Brace168. Steven Bliim is COO of the Cipherpoint and Hugh
Stodart is Head of Product and Software Engineering. Chairman Ted Pretty will oversee the combined
group supported by David Grinham as Head of Finance.
Cipherpoint Chairman Mr Ted Pretty said: “We are delighted to welcome Matt Miller, Greg Bunt and
their team to Cipherpoint. Our joint focus will be to ensure that Brace will have one of the most
sophisticated MSSP offerings in the market. Our recently announced partnership with XM Cyber will be
followed by other complementary alliances. We are targeting increased revenue and opening up new