Argentum Announces Sale of Trustwave
Transaction Represents Fourth Succesful Exit By Argentum in 2015
Chicago, IL – August 31, 2015 – Trustwave® today announced the completion of its acquisition by Singapore Telecommunications Limited (Singtel), Asia’s leading communications company. The acquisition bolsters Trustwave’s ability to expand its leadership in managed security services globally. Trustwave, which remains headquartered in Chicago, is now a standalone business unit within Singtel Group Enterprise and will continue to operate under the Trustwave brand.
Robert J. McCullen, Trustwave Chief Executive Officer and President, said, “Joining Singtel gives us the ability to leverage its global presence and resources to accelerate worldwide adoption of Trustwave managed security services and technologies. By combining Singtel’s robust information and communications technology solutions with Trustwave’s industry-leading security offerings, we can now provide even more cutting-edge services that enhance what we deliver to our valued customers and partners. With the backing of Singtel, we will continue to innovate, deliver and expand our global leadership in cyber security services and technologies.”
Bill Chang, Singtel Group Enterprise Chief Executive Officer, said, “Trustwave can leverage Singtel’s assets and extensive market presence to broaden its overall security portfolio and address the fast-growing security market opportunity, especially in the Asia Pacific region. Together, we are also strengthening our managed security services capabilities to meet the increasing demand of enterprises worldwide for a trusted partner to secure their networks, mobility platforms, devices, IT, applications and databases.”
Singtel brings a wealth of data from its massive Asia Pacific network backbone and Advanced Security Operations Center (ASOC) that Trustwave plans to use to feed additional threat intelligence into its managed security services. Joining Singtel also increases the collective managed security services capacity of Trustwave by expanding its global footprint from six global security operations centers (SOCs) to eight including the Singapore SOC and one planned in Australia. Trustwave will also leverage Singtel’s strategic industry partnerships to deliver additional advanced, third-party services to customers.
With the acquisition finalized, Trustwave has added a number of cyber security assets and capabilities to Singtel including:
- Enterprise-grade managed security services for threat, vulnerability and compliance management delivered through the unified, cloud-based TrustKeeper® portal
- More than three million business subscribers in 96 countries
- More than 1,200 security-focused employees located in 26 different countries
- Six global Security Operations Centers-four located in North America, one in Asia Pacific and one in Europe
- The world-renowned Trustwave SpiderLabs® ethical hacking and threat research team
- A broad portfolio of security technologies and intellectual property with 56 patents either granted or pending.
The current Trustwave management team, including Trustwave Chief Executive Officer and President Robert J. McCullen, continues to drive operations and growth of the business. No headcount reductions or major organizational changes have been made due to the acquisition.
The Growing Managed Security Services Market
The managed security services industry is expected to grow rapidly in the coming years due to the increasing frequency and complexity of cyber-attacks. The industry is estimated to grow from more than US$15 billion in 2015 to more than US$27 billion in 2019, according to the latest 2015 Gartner Information Security Forecast report.
Trustwave has rapidly expanded it leadership in managed security services and has been recognized by the industry’s top industry analyst firms and media outlets. In December, IDC named Trustwave a “company to watch” in its profile of the company. Forrester Research also named Trustwave a leader in “The Forrester Wave™: Managed Security Services: North America, Q4 2014,” published in November. SC Magazine named Trustwave a finalist for best managed security service in both their U.S. and European awards programs.
Christina Richmond, IDC’s Program Director of Security Services, said, “Trustwave is well positioned for growth. The company has made savvy acquisitions that have been integrated with few apparent bumps, resulting in rapid go-to-market launches of new services. The company also offers managed security services that are specific for vertical industries, and we view this as a competitive strength. Trustwave is investing in most of the areas that we believe are core to what IDC calls MSS 2.0: mobile/BYOD, cloud, threat intelligence/big data, and incident response/forensics.”
Businesses use managed security services to address advanced information security threats while alleviating the pressures created by resource constraints, skills shortages, compliance requirements and the rapid adoption of new technologies. These services provide the security businesses need without requiring them to install and manage technologies themselves, to retain and train staff to run and configure those systems, or to worry about aging levels of protection. By relying on Trustwave as their trusted security partner, businesses can focus more on their priorities and core competencies.
For the latest information about Singtel’s acquisition of Trustwave visit www.trustwave.com/acquisition.
Singtel is Asia’s leading communications group providing a portfolio of services including voice and data solutions over fixed, wireless and Internet platforms as well as infocomm technology and pay TV. The Group has presence in Asia, Australia and Africa with over 550 million mobile customers in 25 countries, including India, Indonesia, the Philippines and Thailand. It also has a vast network of offices throughout Asia Pacific, Europe and the United States. For more details, visit www.singtel.com.
Trustwave helps businesses fight cybercrime, protect data and reduce security risk. With cloud and managed security services, integrated technologies and a team of security experts, ethical hackers and researchers, Trustwave enables businesses to transform the way they manage their information security and compliance programs. More than three million businesses are enrolled in the Trustwave TrustKeeper® cloud platform, through which Trustwave delivers automated, efficient and cost-effective threat, vulnerability and compliance management. Trustwave is headquartered in Chicago, with customers in 96 countries. For more information about Trustwave, visitwww.trustwave.com.
Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry-leading companies. The firm partners with management teams of companies with revenues of $5 million to $25 million to provide capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in nearly 80 companies and supported more than 180 add-on acquisitions in technology, healthcare and other high growth service sectors. Learn more at www.argentumgroup.com.