Sysnet Global Solutions, a leading provider of cyber security and compliance solutions, said today that it has acquired SecureTrust, a part of Trustwave, in order to broaden its cyber security offerings and increase its market reach.
SecureTrust, a leading provider of PCI compliance, offers innovative solutions and methods for achieving and maintaining compliance and security. SecureTrust is located in Chicago, Illinois, and has over 20 years of experience offering solutions to customers in over 96 countries.
Sysnet is committed to providing organisations throughout the world with comprehensive compliance and security solutions. SecureTrust is a natural fit for Sysnet, as it expands the company’s customer base, security offering, and geographic reach – all while complementing its proprietary security and compliance systems.
As a result of this acquisition, the combined organization will be the world’s largest Qualified Security Assessor (QSA) company and one of the largest providers of compliance and security solutions, with many of the world’s top acquirers and payment service providers as clients and over five million businesses using Sysnet’s platforms.
Clients of SecureTrust who switch to Sysnet will gain access to a new solution set, delivery team, and geographic coverage that will be unrivalled in the market. They’ll have access to a unified security and compliance platform with improved functionality and quicker access to freshly developed solutions. Sysnet’s commitment to offering premium solutions and support will ensure that its new clients’ evolving needs are met and exceeded in the future.
Over the last five years, the rise of new and advanced threats, as well as the widespread adoption of complicated cloud adoption, has prompted Trustwave to swiftly expand and evolve its offering to meet client needs. While Trustwave’s history may be traced back to PCI compliance, the company’s key services now include Managed Security Services (MSS), Managed Detection and Response (MDR), and Consulting and Professional Services (CPS).
As a result, SecureTrust’s services are no longer tightly connected with Trustwave’s growth strategy. SecureTrust has worked hard over the years to develop a brand and culture that is unique from Trustwave. Trustwave is immensely proud of this distinction, and this sale is the next phase in the separation process. As part of this transaction, Sysnet is also purchasing a portion of Trustwave’s MSS business primarily focused on the hospitality sector, further augmenting its existing MSS offering, which it already enhanced earlier this year with the acquisition of NuArx.
“We are very excited to have the SecureTrust team join Sysnet Global Solutions,”commented Bob McCullen, Chief Executive Officer of Sysnet.“The Sysnet brand has long been synonymous with trusted solutions in the managed security and compliance market. By integrating talent and technology from pioneering brands, such as SecureTrust, into our portfolio, we can deliver the innovation that our clients need to stay ahead of the curve along with the peace of mind that comes with working with a well-established authority in the space, no matter their size or requirements.”
“This business shift will allow Trustwave to rapidly accelerate its momentum as a leader in managed detection and response, world-class professional services, and data protection,” said Eric Harmon, Chief Executive Officer of Trustwave. “Trustwave clients will benefit from a narrowed focus on the offerings that matter most to them. This will translate to more innovations across our industry-leading client services and targeted investment in emerging technologies and world-class talent. We value the partnership and synergy that we’ve had with the SecureTrust team and look forward to their success and future with Sysnet.”
Sysnet’s acquisition of SecureTrust is the latest in a series of the company’s acquisitions over the last 12 months. Sysnet acquired ControlScan MCS and Viking Cloud in late 2020 and NuArx earlier this year. The combined organization creates a scalable platform for next-generation cyber defense with security consulting services delivered by the industry’s leading experts.
Sysnet is backed by FTV Capital and True Wind Capital.
The Sysnet team was assisted in the transaction by Willkie Farr & Gallagher.
Trustwave utilized Jones Day as legal advisors.