Trustwave to continue to operate as a standalone business unit
Combines Singtel’s ICT services with Trustwave security capabilities
SINGAPORE Telecommunications Ltd (Singtel) has agreed to acquire a 98% equity interest in US-based managed security services specialist Trustwave for US$810 million.
Trustwave chairman and chief executive officer Robert J. McCullen will hold the remaining 2% equity interest, Singtel said in a statement.
Trustwave is the largest independent managed security services provider in North America with presence in Europe and Asia Pacific, Singtel said. In a filing with the Singapore Exchange (SGX), it said Trustwave has an enterprise value of US$850 million.
The transaction is subject to the fulfilment of certain conditions precedent, including relevant approvals from regulatory authorities and other third parties, and is expected to be completed in three to six months’ time.
In February, Singtel launched an Advanced Security Operations Centre with US-based cybersecurity expert FireEye Inc, saying the centre would provide organisations with the latest technology, expertise and intelligence to enhance protection against the rapidly growing threat of advanced attacks.
Meanwhile, Trustwave has a broad portfolio of services across three main areas: Threat management, vulnerability management, and compliance management.
Delivered through the unified cloud-based TrustKeeper platform, its services help customers from a wide range of industries protect their IT infrastructure, applications and networks, and respond to cyber-threats, Singtel said.
“We aspire to be a global player in cyber-security,” said Singtel group chief executive officer Chua Sock Koong. “We have established a strong security business in the region, both organically and through strategic partnerships with global technology leaders.”
“Our extensive customer reach and strong suite of ICT services, together with Trustwave’s deep cybersecurity capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cybersecurity space,” he added.
Trustwave, headquartered in Chicago, claims over three million business subscribers, served by 1,200 employees in 26 countries, including a team of security experts in its forensic and threat research security unit, SpiderLabs.
Trustwave provides its customers round-the-clock support in a dynamic cyber-threat environment through its five security operation centres and nine engineering centres.
Singtel expects that post-acquisition, Trustwave will continue to operate as a standalone business unit and strengthen its position in the United States and Europe.
It will leverage Singtel Group Enterprise’s assets and market presence to broaden its overall security portfolio and address the fast growing emerging security market opportunity in the Asia Pacific region.
“We are excited to join Singtel and to leverage its global presence and resources to accelerate worldwide adoption of our security solutions,” McCullen said.
“This strategic partnership creates an unparalleled opportunity to combine Singtel’s robust information and communications solutions with Trustwave’s industry leading security technologies and managed services platform to deliver cutting-edge solutions,” he added.
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