ASX-listed company SecureNet has acquired Baltimore Australia and New Zealand in a $5.7 million deal expected to close on June 1.
SecureNet has exclusive rights to distribute Baltimore authentication and authorisation products in Australia and New Zealand for 12 years but will only partner with Baltimore in the rest of Asia.
Baltimore's sale here has been on the agenda for months since the departure of its former managing director John Palfreyman.
SecureNet managing director Geoffery Ross said the combined products and services of both companies will make the company a market leader.
"This transaction will also make a positive contribution to our profit next year," he said.