Valuation and advisory firm Landmark White has rebranded as Acumentis.
The new name is derived from two Latin words, it described: acumen, meaning insight and sharpness; and mentis, which involves having sound mind, memory and understanding.
Australia’s only independent, locally-owned, ASX-listed valuation company – Acumentis had a horrible year, with two data breaches resulting in several of its major clients temporarily suspending doing business with it.
In July, the group recorded a $15.2 million net loss after tax and made a plea for at least $3 million in equity to stay afloat.
Five weeks ago, NSW Police Force Cybercrime Squad made an arrest in connection to those cyber incidents.
Interestingly, the culprit, who uploaded valuation data to the dark web, was not an employee – but somebody external to the company with trusted inside access and who Acumentis claims may have deliberately targeted Landmark White with an intent to damage its business and reputation.
The valuation and property consultancy firm has 40 Australian offices, in metropolitan and rural locations, and employs 300 staff.
Late last year it paid $10.3 million – as a cash and scrip takeover – for Brisbane-based valuation firm, Taylor Byrne, a specialist in rural New South Wales, Queensland and Northern Territory markets.
“Landmark White will remain as the ASX-listed company name for the short term; however a special resolution will be put to shareholders at an upcoming general meeting to rename the company to align with the new brand,” the company said, in a statement posted on its new website.
In mid-October, the company achieved ISO 27001 certification – the international standard relating to information security.
Coupled with a review of its IT, software and privacy systems, Acumentis said it now offers clients “arguably the most secure service in the industry”.
Since February in an acting capacity, but since September, permanently, the firm has been led by Timothy Rabbitt.
A former national director with the Australian Property Institute, Mr Rabbitt led Taylor Byrne for more than two decades.