Overview
Cipherise Pty Ltd was an Australian cybersecurity and digital identity company specialising in authentication and secure access technology. Its platform provided enterprises with advanced digital identity tools to protect sensitive systems and improve user authentication, targeting sectors such as finance, government, and enterprise IT.
Olvera was appointed to guide Cipherise through a structured wind-down while supporting the completion of its pending business sale.
Challenges
- Industry headwinds: The broader technology sector was experiencing tightening capital markets, making it increasingly difficult for growth and funding.
- Liquidity constraints: Cipherise faced short-term cash flow pressures, limiting its ability to sustain product development and meet operational expenses.
- Pending business sale: The company was in advanced discussions to sell its business and required careful management to preserve value and complete the transaction.
Turnaround Plan
Our team worked closely with directors and key stakeholders to maintain operational continuity during the sale process. Activities included negotiating the successful sale of the Cipherise business, managing stakeholder communications, and overseeing the orderly wind-down of remaining operations.
This process was executed in three key phases:
Phase 1: Completion of the business sale to a suitable buyer.
Phase 2: Distribution of sale proceeds to relevant stakeholders.
Phase 3: Final wind-down of residual business operations.
Results
Key Drivers of Success
- Proactive coordination between directors, buyers, and key stakeholders.
- Early engagement to mitigate losses during financial distress.
- Strategic negotiation to complete the sale under tight timelines.
