A Brisbane-based cybersecurity firm that services tech giants such as Canva, Afterpay and Atlassian has been snapped up for what is understood to be more than $100 million by UK-based dark web intelligence firm Searchlight Cyber.  

Founded in 2018 by Michael Gianarakis and Shubham Shah, Assetnote focuses on Attack Surface Management (ASM) – a cyber defence process that continuously monitors and assesses an organisation’s internal and external assets for vulnerabilities. The company offers dark web intelligence and monitoring capabilities, allowing clients to better understand critical vulnerabilities in digital infrastructure.

Following the acquisition, the entire Assetnote team will be joining Searchlight, including Gianarakis and Shah, who will be spearheading the ASM segment, in addition to the engineering and research teams in Australia. 

“Having built our business from the ground up, the next phase of Assetnote’s journey is all about how we can best expand our options and proposition for our customers,” Gianarakis said.

“With Searchlight, we found a company that is similar in terms of culture, vision, and opportunities for growth; everything naturally clicked into place. There is real excitement from across the team for the next chapter, and we can’t wait to see the benefits that our shared customers will experience as a result.”

Founded in 2017 by Ben Jones and Dr Gareth Owenson, Searchlight Cyber offers dark web investigation and monitoring capabilities, giving clients access to 475 billion recaptured data points from the clear, deep and dark web to allow them to capture evidence and identify threats early.

The acquisition comes two weeks after US-based private equity firm Charlesbank Capital Partners announced it would inject capital into Searchlight, helping bolster its headcount and global network of partners. The amount invested by the company, which manages approximately $19 billion in assets under management, was undisclosed.

It is anticipated that the Assetnote integration will considerably expand Searchlight’s customer base and reach globally.

“ASM was always going to be the next area of expansion for Searchlight, and when we met the Assetnote team we very quickly recognised the opportunity to incorporate one of the best solutions on the market into our company,” Searchlight Cyber co-founder and CEO Ben Jones said.

“The expertise within the Assetnote team, its industry-leading research, and its impressive customer base bring huge value to Searchlight and our customers. We are delighted to welcome the Assetnote team into the business and celebrate this critical step in our continued growth.”

AGC Partners served as exclusive financial advisor to Assetnote, while Mintz and Corrs Chambers Westgarth served as legal advisors to Searchlight.

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