Acquisition builds cybersecurity capabilities

The Riverside Company’s portfolio company Virtual IT Group (VITG) has acquired Sydney IT business Security Centric.

Sasho Vasilevski was the sole owner of Security Centric which focuses on consulting and managed services across governance, risk and compliance, security operations centre monitoring and penetration testing. Vasilevski is to become VITG’s chief security officer. The rest of Security Centric’s team have also joined VITG to bolster its cybersecurity services.

Shellharbour, NSW, based VITG already has ten offices across Australia and New Zealand and employs more than 400 people. The company focuses on providing IT support to mid-market businesses.

According to VITG, the partnership with Security Centric will provide deeply integrated technology and cyber functions normally available only to large enterprise teams. Security Centric started out providing services in the defence and federal government sectors. Security Centric has particular expertise in managed detection and response, governance risk and compliance, security engineering and technical assurance.

VITG chief executive Maurice McCarrthy said: “Mid-market organisations across ANZ are being hit harder and more often by increasingly sophisticated cyber threats. Security Centric brings exceptional capability and a pragmatic, customer-first mindset that aligns strongly with VITG’s vision. Together we will deliver scalable, security-led outcomes that give customers confidence and resilience in a rapidly changing environment.”

Riverside invested in VITG in April 2024 when the company employed about 200 people. The business was founded by Christian Pacheco in 2015.

Last year, VITG acquired Auckland-based The Instillery for an undisclosed sum.

Image: Sasho Vasilevski of Security Centric.