Security heavyweight formed by merger |
 |
By Shawna McAlearney, News Editor
21 Sep 2004 | SearchSecurity.com |
|
|
A merger of three companies announced today will create the world's largest privately held information security company, said newly christened Cybertrust. The company, comprised of TruSecure Corp., Betrusted Holdings Inc. and Ubizen, will have 1,000 employees, 4,000 clients worldwide and $160,000,000 in annual revenue.
"Each of the three companies contributes equally to the merger in terms of revenue, employees and geography," said Siobhan MacDermott, senior vice president of global marketing and communications at New York City-based Betrusted.
Officials at the newly formed Cybertrust said the merger is designed to better respond to today's security challenges through a wider variety of offerings.
- Betrusted specialized in identity management and digital identities.
- TruSecure, in Herndon, Va., provided intelligent risk management and compliance products and services.
- Ubizen, a majority-owned subsidiary of Betrusted located in Belgium, focused on threat detection and offered expertise in security policies and infrastructure.
Cybertrust said it will use these products and skills to address vulnerability issues, evolving regulatory compliance requirements and identity management needs through professional services or as a managed service at a customer's site or through multiple, accredited "Trustcenters" located throughout the world.
"Deep security expertise and intelligence are the currencies that will dominate enterprise security in the coming years," Matthew Kovar, vice president at the Yankee Group analyst firm, said in a statement on the merger. "The combination ... creates a global security management leader that can offer intelligence-driven products and services in the areas of threat, vulnerability, compliance and identity management to any organization, anywhere in the world."
Cybertrust's senior leadership team includes: CEO John Becker, former chairman and CEO of TruSecure; Chairman Rick Smith, former chairman of Betrusted; COO Brett Jackson, former CEO of Betrusted; Chief Strategy Officer Stijn Bijnens, co-founder and former CEO of Ubizen; CFO Jim Murphy, former CFO of TruSecure; and CTO Peter Tippett, former CTO of TruSecure.
"I've worked extensively with these companies in the past, and I think the merger has tremendous potential," Pamela Fusco, CSO at pharmaceutical conglomerate Merck & Co. Inc., said in a news release distributed by the new company. "The market is searching for a security company that offers a broad range of capabilities, deep technical and industry expertise, and a worldwide presence. Cybertrust has exactly those advantages and many more, and I expect it to have a strong impact on the entire security market."
The merger agreement is subject to shareholder and regulatory approvals.
The announcement follows on the heels of last week's news that Cupertino, Calif.-based Symantec Corp. will acquire Mass.-based security consultancy @stake Inc. next month and fold the company into its global professional services.
|
|
|
|
