Cloudten, Australia based AWS Cloud Security partner was acquired by Transaction Solutions International (TSN) for $8.6 million. Highly placed sources say that the acquisition was approved by TSN’s shareholders on January 29th, 2019 after which an initial amount of $3 million was paid to Cloudten to lock the deal and then the rest $5.6 million will be paid in installments over the next 14 months.
“We are pleased to welcome Cloudten to the TSN Group and hope to embed best practices into the commercial and operational aspects of the business to prepare TSN for further growth opportunities”, said Gary Foster, Chairman, TSN Group.
Cloudten is known to be an AWS advanced consulting partner which is into cloud migration, Security & compliance and Elastic Managed Cloud services. The company managed to get into the CRN Fast50 list for 2018 and won major projects of UK government’s digital marketplace.
On the other hand, TSN, an Australia Security Exchange (ASX) listed technology services provider seems to be interested in tapping the cloud security market via CloudTen to cash in the exciting growth opportunities of cloud business in markets related to Melbourne, UK, and Singapore.
FYI, Puppet, Docker, Sumologic, Sophos, and Fortinet are all the prestigious customers of Cloudten which offers exclusive scalable gateways on Amazon Web Services.