Handshake Networking

What Handshake Networking does

Handshake Networking Ltd is an independent information security consultancy incorporated in Hong Kong in 2004, providing testing, assurance, audit, and advisory services to blue-chip and multinational clients primarily in Hong Kong and the wider Asia Pacific region. The firm operates from its headquarters at 16/F Metro Loft in Kwai Chung, Hong Kong, and is owned and led by founders Richard Stagg (Director and Managing Consultant, penetration testing since 1997) and David Walker (Director and Principal Consultant, 17+ years of testing experience holding GIAC GMOB, CISA, CISSP, and PCI ASV credentials).

The company's service portfolio comprises nine discrete offerings rather than a unified software product: external, internal, wireless, and web application penetration testing; specialized security consulting; hospitality guest-system testing; PCI DSS compliance and ASV scanning; computer forensics with court-admissible evidence handling; and on-site security training. The underlying technology stack relies on open-source security testing tools and the OSSTMM (Open Source Security Testing Methodology Manual) methodology, augmented by a proprietary risk-assessment framework that organizes findings by impact and likelihood, and an internal peer-review process to validate accuracy. A distinctive capability is a remote testing solution that emulates near-100% realistic internal penetration tests of hotel guest systems from the Hong Kong lab, enabling worldwide hospitality engagements without onsite travel.

Handshake generates revenue through professional services engagements delivered on a project or retainer basis with quote-based pricing tailored to client requirements; the firm explicitly does not sell managed services, products, or vendor solutions, preserving advisory independence. Distribution is direct B2B consulting, supported by earned-media visibility through Richard Stagg's role as a media commentator on security issues. The firm has held PCI Security Standards Council Approved Scanning Vendor (ASV) certification since 2006, a credential it describes as exclusive to Hong Kong and Macau, which underpins its PCI compliance practice for merchants and service providers processing card payments.

Name

Handshake Networking

Legal name

Handshake Networking Ltd.

Website

https://handshake.hk

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

Handshake Networking is an independent Hong Kong-based information security consultancy, founded in 2004, providing penetration testing, PCI compliance, forensics, and security training to multinational corporations across the Asia Pacific region.

Ownership category

akta.pro rank

Headquarters

HQ city

Mong Kok

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Security Consultancy Services: Professional consulting services including penetration testing, security audits, forensic computing, and training delivered on a project or retainer basis

Distribution channels1 record

Marketing channels1 record

Core offering

Handshake Networking Ltd is an independent information security consultancy selling a portfolio of nine discrete service offerings — External/Internal Penetration Testing, Wireless Network Testing, Web Application Testing, Consulting Services, Hospitality Services Testing, PCI Services, Forensic Services, and Training — to multinational corporations in Hong Kong and the Asia Pacific region. Services are delivered by consultants using open-source security tools, the OSSTMM methodology, and the firm's own proprietary risk-assessment and peer-review framework.

Product overview

Handshake Networking is a pure-play information security consultancy offering a portfolio of nine distinct service offerings rather than a unified software product. Services include External and Internal Penetration Testing, Wireless Network Testing, Web Application Testing, Consulting Services, Hospitality Services Testing, PCI Services, Forensic Services, and Training. All services are delivered by an independent team of consultants using open-source methodologies (OSSTMM) and tools, with no products or managed services sold. The company operates from Hong Kong and serves multinational corporations across the Asia Pacific region.

Differentiator

Problem solved

Functional benefit

Products and services

• External Penetration Testing Simulated external attack against a network or specific servers using hacker tools and techniques, performed from an external internet connection to identify vulnerabilities. Sold to enterprises and multinational corporations needing third-party external security testing.
• Internal Penetration Testing Simulated attack performed from within the target company to discover vulnerabilities accessible to insiders, including weak passwords, plaintext credentials, and misconfigured servers.
• Wireless Network Testing Comprehensive examination of wireless network security including encryption strength evaluation, wireless footprint analysis, and detection of rogue access points for both company networks and public hotspot networks.
• Web Application Testing Remote testing of websites or web applications to locate vulnerabilities including SQL injection, cross-site scripting, authentication subversion, and server configuration errors.
• Consulting Services Specialized information systems security consultancy including network security architecture design and validation, policy and guideline development, and hardware/software evaluation for organizations building or assessing networks.
• Hospitality Services Testing Guest-system security testing for hotels, clubs, and hospitality groups across Hong Kong and worldwide, covering wired/wireless internet access, VoIP telephony, IP set-top-boxes, and public workstations. Handshake offers a remote testing solution that allows a near 100% realistic internal penetration test to be performed from its Hong Kong lab regardless of where the hotel is located.
• PCI Services PCI DSS compliance preparation and ASV (Approved Scanning Vendor) penetration testing for merchants and service providers accepting and processing credit card transactions. Handshake is the only ASV team in Hong Kong/Macau.
• Forensic Services Computer forensics including secure evidence acquisition, data analysis, recovery of deleted or corrupted files, and case preparation for court or tribunal proceedings.
• Training On-site security training courses including web application development security, general staff awareness, IT staff security training, and acceptable use policies.

Quantifiable outcome

• Scenario-based testing delivers customized, actionable reports vs hundreds of pages of raw automated output
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• NetSPI: US-based penetration testing and attack surface management firm offering similar technical security assessment services. Direct peer given the pen-testing-led service portfolio and project-based consulting delivery.
• Secarma: UK-headquartered penetration testing and cybersecurity consultancy. Comparable to Handshake in boutique consultancy model, project-based pricing, and focus on technical security testing for enterprise clients.
• NCC Group: UK-headquartered, publicly-listed cybersecurity consultancy offering penetration testing, security advisory, and managed detection services globally. Direct peer due to overlapping service portfolio and shared focus on enterprise clients seeking independent security testing.
• Bishop Fox: US-based boutique cybersecurity firm specializing in offensive security services including penetration testing and red teaming. Comparable to Handshake in boutique model, senior-consultant-driven delivery, and enterprise-client focus.
• IOActive: Global security consulting firm specializing in penetration testing, hardware security, and security research. Comparable to Handshake in senior-consultant delivery model and enterprise security advisory scope across regions.
• Praetorian: US-based offensive security firm offering penetration testing, red teaming, and attack surface management. Direct peer in boutique specialist consulting model and consultant-led service delivery.
• MDSec: UK boutique penetration testing firm known for research-led security testing. Direct peer in boutique specialist model and consultant-driven delivery for high-end enterprise engagements.

Regional players

• Vantage Point Security: Singapore-headquartered boutique penetration testing firm serving APAC enterprises. Regional peer operating in similar niche with comparable boutique model and technical security testing focus.

Broad incumbents

• Trustwave: Global managed security services provider with a substantial penetration testing and consulting arm. Comparable in offering pen testing and security consulting to enterprise clients across APAC, though with a broader managed-services portfolio.
• NTT Security: Japan-based global security services arm of NTT offering managed security, consulting, and pen testing across APAC. Broad incumbent operating in Handshake's market with significantly broader portfolio and regional scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Handshake Networking