TAC Infosec Jumps 5% After Two Strategic Acquisitions In US & UAE
by Amit Singh · Inc42SUMMARY
- TAC Infosec has acquired US-based cybersecurity firm CyberSandia for $25,000 to strengthen its presence in the region and expand its global footprint
- In addition, TAC Infosec has also acquired WOS — a wholly owned subsidiary of TAC Cyber Security Consultancy LLC in the UAE to cater to the growing demand for cybersecurity services in the GCC region
- Founded in 2016 by Trishneet Arora, TAC Infosec offers risk-based vulnerability management and assessment solutions, and other SaaS cybersecurity solutions to enterprises and small businesses
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Shares of TAC Infosec jumped almost 5% to INR 687.6 apiece on the NSE Emerge in early trading hours today (September 30) after the SaaS cybersecurity startup announced that it has completed two strategic acquisitions in the US and UAE.
In an exchange filing, the company said it has acquired US-based cybersecurity firm CyberSandia to strengthen its presence in the region and expand its global footprint. CyberSandia holds an exclusive government contract to provide IT services to New Mexico, it added.
TAC Infosec did not disclose the financial terms of the deal. However, last month, the startup said it had entered into a share purchase agreement to acquire CyberSandia for $25,000.
In addition, TAC Infosec has also acquired WOS — a wholly owned subsidiary of TAC Cyber Security Consultancy LLC in the UAE — to cater to the growing demand for advanced cybersecurity services in the Gulf Cooperation Council (GCC) region.
The new UAE subsidiary will allow the company to diversify its client base and offer cybersecurity services to cross-border clients through the GCC, it said in a statement.
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The developments come days after TAC Infosec elevated its head for AppSec and InfoSec, Saransh Rawat, to the position of chief technology officer (CTO). Besides, the company also announced its chief financial officer (CFO) Vishal Jain stepping down from his role due to personal reasons.
Founded in 2016 by Trishneet Arora, TAC Infosec offers risk-based vulnerability management and assessment solutions, and other SaaS cybersecurity solutions to enterprises and small businesses.
The Vijay Kedia-backed startup posted a 23% jump in its net profit at INR 6.33 Cr in the financial year 2023-24 (FY24) from INR 5.12 Cr in the year-ago period.
Revenue from operations also surged 17% to INR 11.84 Cr during the year under review from INR 10.09 Cr in FY23.
TAC Infosec made its Dalal Street debut in April, with its shares listing at a premium of 173.6% over the issue price. The stock ended Friday’s (September 27) trading session at INR 654.90 on the NSE Emerge, which is almost 106% above its listing price of INR 290 apiece and a whopping 518% higher than its issue price of INR 106 per share.