Technology and services

Bolstering defence sovereignty through a landmark cybersecurity merger

Macquarie Capital acted as exclusive financial adviser to Penten on its merger with Amiosec to form PentenAmio

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SectorTechnology and services
Sub-sectorDefence & government services
LocationAustralia / United Kingdom

Opportunity

Penten, an Australian-based cybersecurity innovator, and Amiosec, a UK-based leader in secure mobility solutions, each bring a wealth of experience delivering advanced cyber technologies to defence and government clients.

Both companies have established themselves as trusted partners to national security agencies, with Penten focusing on secure mobility and applied AI, and Amiosec serving as a strategic supplier of secure mobility and encryption across the UK Government.1

In the wake of heightened geopolitical tensions and increased defence and resilience spending across Allied nations, the AUKUS trilateral security partnership — with its focus on strengthening sovereign cyber capabilities — provided a powerful macro backdrop for the merger.2

By combining their complementary technologies and deep relationships with government stakeholders, the merger of Penten and Amiosec creates a global leader supporting the evolving needs of defence and security clients across the Five Eyes and NATO-aligned countries.3

Approach

Macquarie Capital, in its role as exclusive financial adviser to Penten, utilised its expertise in cross-border M&A and experience of navigating complex, sensitive transactions in the defence sector to facilitate a transformative merger between Penten and Amiosec.

This transaction required careful navigation of unique shareholder dynamics, regulatory sensitivities and engagement with both Australian and UK government stakeholders. Macquarie Capital supported Penten through process design, shareholder negotiations, cross-border due diligence and bank debt financing, leveraging the breadth of the Macquarie platform.

This comprehensive approach contributed to the transaction’s success despite the complexity of operating in two sovereign defence markets.

Outcome

The landmark merger of two leading cybersecurity technology firms creates PentenAmio, one of the largest and most advanced global providers of digital information security technologies.3

With 300 security-cleared professionals, sovereign facilities for the UK and Australia, and a growing customer base across Allied nations, PentenAmio is dedicated to providing secure mobile communications, AI-enabled cyber defence and electronic deception technologies for government and military organisations.3

This merger significantly strengthens the AUKUS cyber industrial base and expands secure capabilities for the UK, Australia, and their allied nations.4

The combined business is expected to generate more than $A125 million in annual revenue, with high growth rates and strong gross profit and EBITDA margins. This positions PentenAmio to invest further in research and development, talent, and global reach — and to take a sustained leadership role in global security innovation.3

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~300

security cleared professionals3

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$A125+ million

annual revenue3

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Landmark merger

of two leading cyber-security firms

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Strengthens

the AUKUS cyber industrial base4

  1. Acquisition of Amiosec Limited by Pen10 Ltd: notice of final order, GOV.UK, November 2025
  2. Penten and Amiosec merge to form PentenAmio following AUKUS innovation, EX2, November 2025
  3. PentenAmio formed from successful merger of Penten and Amiosec, PentenAmio, November 2025
  4. AUKUS Cyber Defence Leaders Unite: Penten and Amiosec announce intention to merge, PentenAmio, November 2025

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