Penten, an award winning, Australian-owned cyber security technology company, today announced it has accepted the entry of Five V Capital as a significant minority shareholder in the company.
Five V Capital is an Australian-owned and operated private equity firm that specialises in partnering with Australia and New Zealand’s market-leading companies.
Under the terms of the agreement, Five V Capital will invest $50m, taking a significant minority stake in Penten. The Five V investment will provide an injection of capital to support the acceleration of growth initiatives. Expanding the reach of Penten capabilities in secure mobility, cyber applied artificial intelligence and tactical secure communications at home and internationally.
With its significant funds under management, backing Penten sees Five V signal its confidence in the growth potential and global impact of Australia’s Defence and Cyber industries.
The addition of Five V Capital as a shareholder in Penten followed a comprehensive and considered tender process.
Penten CEO and co-founder Matthew Wilson said he welcomed the addition of Five V Capital as a shareholder that appreciated and understood Penten’s profile in the defence and cyber security sectors.
“Importantly, Penten remains a company that is Australian-owned,” Wilson said.
“Penten will now be well-placed to continue its rapid expansion delivering new defence and cyber security technologies for Australia and its allies.”
“Cyber security remains a growing concern within Australia and internationally. With Five V Capital as a shareholder and growth partner, we will be better positioned to help Australia respond to the increasing defence and cyber challenges.”
Penten company director and Chief Financial Officer Sarah Bailey explained the Five V investment as a fundamentally important step in Penten’s growth.
“This investment by Five V signifies the beginning of the next growth story for Penten and I am incredibly excited by this next chapter,” Bailey said.
Penten and Five V were advised by PWC, Allens, Gilbert + Tobin, LEK and McR Defence.