Overseas investor acquires Hemisphere Technologies
- 23 December, 2016 11:45
Harry Cheung (Hemisphere Technologies) and Andrew Mamonitis (Hemisphere Technologies)
Hong Kong-based investor, Harry Cheung, has joined Hemisphere Technologies as a new company shareholder, as the distributor shakes up its leadership team heading into 2017.
Terms of the acquisition will see current managing director, Andrew Mamonitis, also become company shareholder, with Cheung taking up the role of chairman within the business.
As a result, Peter Phokos will leave the distributor to pursue other business interests.
Cheung’s entry into the Australia and New Zealand market will result in a “significant injection of capital” for the specialist distributor, expanding the company’s reach across Asia Pacific in the process.
“Having had a lot of experience and exposure to the APAC and the Australian market in particular, in both a vendor and distribution capacity, I’ve taken the decision to directly invest in Hemisphere Technologies’ future,” Cheung said.
“I see it as an exciting opportunity within a fast growing, dynamic environment. Having seen what drives success across the channel, I can see Hemisphere has all the right indicators in place.
“That includes the strong relationship that Hemisphere has with its channel partners, the quality of vendors in its portfolio, the value add services it provides and importantly, the trajectory of the rate of business growth.”
Cheung’s investment follows a year of sizeable change for the distributor, following a large diversification in its portfolio, with a number of new partnerships with both leading and emerging security vendors.
Looking ahead, Cheung said the priority for Hemisphere Technologies moving into 2017 will be on its network of trans-Tasman channel partners.
Within the new structure, the company will also introduce a senior operations director and a channel manager, as well as further additions to its sales team.
“Given Harry’s background, it’s a real vote of confidence in Hemisphere’s future, and where we can take things for the benefit of our channel partners,” Mamonitis added.
“It’s a real winner for us and adds a whole new level of energy and momentum. Our focus will remain on the A/NZ market and our new reach will be used entirely to the benefit of our local channel partners.”
Cheung was previously president of Information Security One, recognised as one of the top providers of information security in China, as well as managing director of Beijing Gloryson Technology Co, the sole distributor of Trend Micro in China.
In 2008, Cheung took the role of managing director of Kaspersky Lab Asia Pacific, introducing the business to the market virtually from scratch, forming a close working relationship with Mamonitis, who was A/NZ managing director until February 2016.
Today, Cheung maintains a considerable investment portfolio within the IT security space, as well as investments in medical technologies, lifestyle mobile applications and has a distribution business with exclusive rights to Acronis technologies across Greater China.
From a Hemisphere Technologies perspective, Mamonitis said this means having access to both a well-established channel and the potential for increased technology offerings.
“We’ll be able to provide our channel partners with access to increased market opportunities, as well as the tools required to drive profitability and growth,” he added.