Australia's Tesserent rises on buying cybersecurity firm Loop Secure for $9.7 mln

Tesserent

19/08/2021 05:02

** Cybersecurity firm Tesserent Ltd  TNT.AX  rises as much
as 5.6% to A$0.285 on buying Sydney-based Loop Secure in a
cash-and-stock deal worth A$13.452 mln ($9.69 mln)
    ** Deal for A$9 mln in cash https://www.tesserent.com/site/PDF/01e26098-9bc7-4201-b720-6bb173d7a4ea/AcquiresLoopSecure
 and 15.9 mln TNT shares at A$0.28 apiece
    ** Tesserent says deal to be immediately accretive to
earnings, cash-flow and EPS
    ** Deal follows TNT buying NZ-based Lateral Security in
December last year and a unit of Secure Logic in March
 urn:newsml:reuters.com:*:nASN000N8D  urn:newsml:reuters.com:*:nL4N2LE0DM
    ** Tesserent shares down 19.4% so far this year, as of
Wednesday's close, vs 13.4% rise in ASX All Ordinaries index
 .AORD 

 ($1 = 1.3875 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com))