Singapore Telecommunications (Singtel) is gobbling up Chicago-based Trustwave for US$810 million. Singtel plans to combine its state-of-the-art information and communications technology (ICT) with Trustwave’s broad portfolio of managed security services.
The acquisition will help expand Singtel’s existing line-up of cloud-based solutions to encompass security services, to create an end-to-end ICT offering to business customers-bolstering Singtel’s leadership position in the managed services market.
Post-acquisition, Trustwave will operate as a standalone business unit of Singtel. It will also strengthen its position in North America and Europe, while working closely with Singtel to broaden its overall security portfolio and to address the fast-growing emerging security market opportunity in the Asia Pacific region. Trustwave will continue to be headquartered in Chicago, and the current Trustwave management team will drive the operations and growth of the business.
Trustwave adds a number of cyber security assets and capabilities to Singtel including:
1. More than three million business subscribers in 96 countries
2. More than 1,200 security-focused employees located in 26 different countries
3. Five global security operations centers (SOCs) located in Chicago, Denver, Minneapolis, Manila and Warsaw
4. The world-renowned Trustwave SpiderLabs® ethical hacking and threat research team
5. A broad portfolio of security technologies and intellectual property with more than 56 patents either granted or pending
6. The unified, cloud-based TrustKeeper® portal which is used to deliver Trustwave security and compliance services globally.
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 reach approximately US$24 billion in 2018, up almost 75 percent from approximately US$14 billion in 2014, according to the 2014 Gartner Information Security Forecast report.
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