Sysnet Global Solutions, a provider of cybersecurity and compliance solutions, reveals that it has acquired SecureTrust, a division of Trustwave, in order to expand its cybersecurity solutions and accelerate its ongoing market expansion.
SecureTrust, a provider of Payment Card Industry (PCI) compliance, aims to offer innovation and processes for achieving and maintaining compliance and robust security. SecureTrust has more than 20 years of experience with offering solutions to customers in more than 96 countries and is headquartered in Chicago, IL.
Sysnet is primarily focused on providing integrated compliance and security solutions to businesses internationally. The addition of SecureTrust is a good fit that widens Sysnet’s customer base, security offering, and geographic coverage – “augmented by proprietary security and compliance platforms.”
As a result of this acquisition, the combined organization will aim to serve as one of the largest Qualified Security Assessor (QSA) companies 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.”
SecureTrust customers moving under Sysnet will “benefit significantly from the new solution set, delivery team, and geographic coverage that will be unmatched in the market.” The update also noted that they will have access to “an integrated security and compliance platform with enhanced functionality and faster access to newly developed solutions.”
Sysnet’s dedication to offer quality solutions and support will “give its new clients confidence that their changing needs will be met and exceeded into the future,” the announcement noted.
The emergence of new and advanced threats and the proliferation of complex Cloud adoption over the past five years have “driven Trustwave to rapidly grow and evolve its offering alongside client needs.”
The announcement added:
“While Trustwave’s legacy is rooted in PCI compliance, today the company’s core offering is centered around Managed Security Services (MSS), Managed Detection and Response (MDR), and Consulting and Professional Services (CPS). As a result, the services that SecureTrust provides are no longer closely aligned with Trustwave’s growth focus.”
Over the years, SecureTrust has worked to establish a brand and culture that is “distinctly its own and separate from Trustwave.” The update further noted that Trustwave is quite proud of this distinction, and this sale is “the next phase in the separation process.”
As part of this deal, 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.”
Bob McCullen, CEO at Sysnet, stated:
“We are very excited to have the SecureTrust team join Sysnet Global Solutions. 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.”
Eric Harmon, CEO at Trustwave, remarked:
“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. 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 firm’s acquisitions during the past year.
Sysnet has reportedly acquired ControlScan MCS, Viking Cloud, and NuArx. 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.