The offer came in at a staggering AU$1.57 cash per share--a 78 percent premium on the company's AU$0.88 per share trading price.
The bid received a glowing endorsement by SecureNet's board of directors this morning.
"After evaluating the offer from beTRUSTed, the directors of SecureNet have unanimously resolved to recommend that SecureNet shareholders accept the offer," they said in a statement.
Chairman of the SecureNet board, David Greatorex, says the offer recognises the "underlying value" of the company.
BeTRUSTed was acquired from PricewaterhouseCoopers in January this year by One Equity Partners, a private equity management business of a major US bank.
For its part, beTRUSTed says the acquisition is a part of a strategy to develop an "unparalleled global reach and support", which will accelerate its "capacity to pursue further growth, both organically and through acquisition".
Its' Asia Pacific chief executive, Paul O'Rourke, doesn't believe the offer is too high when all is considered.
"We believe it's a very fair price," he said.
BeTRUSTed isn't going into the transaction blind--the two companies have worked together extensively over the last three years, O'Rourke said.
"Its complementary nature really is the draw," he told ZDNet Australia during a phone interview. "Having the physical presence and operations in Australia... is really the driver".
It's unclear what will happen to the company's whopping cash reserves, reported to be as high as AU$72 million at the end of last year.
"What happens post transaction is yet to be decided," O'Rourke said.
SecureNet was targeted earlier this year by Rene Rivkin. The stockbroker wanted the board to return AU$68 million of its reserves to shareholders. The plan was unsuccessful.
Whilst the fate of the company's cash reserves is looking a little fuzzy, O'Rourke says jobs are safe.
"The plan at this stage is to fully integrate the businesses," he said.
The takeover comes less than a month after the reverse acquisition of ASX listed IT security company Esec, which was effectively gobbled up by Perth based outsourcer ASG following the company's decline into the red.
