Security company will continue to operate from Chicago

Apr 8, 2015 15:50 GMT  ·  By

Privately-held cyber security company Trustwave has agreed to pass management to Singapore Telecommunications Limited (Singtel), in an agreement worth $810 / €750 million.

Trustwave’s portfolio includes technology for fighting cybercrime, protecting data, and lowering security risks. It is recognized as one of the leaders as far as managed security systems are concerned.

Trustwave gets access to more resources

The acquisition is expected to increase Singtel’s foothold in the cyber security market, as well as help Trustwave expand its global business.

The news was announced on Tuesday by Robert McCullen, CEO and President of Trustwave, who said that following the completion of the deal the company would continue to work as a separate unit from Chicago, where it is currently headquartered.

Singtel will not own Trustwave completely, though, as 2% will remain with McCullen, who will still act as CEO and President. However, an increased amount of resources will become available, which should drive the improvement of services, products and customer support at an accelerated rate.

“Joining Singtel will give us the ability to leverage its global presence and resources and accelerate worldwide adoption of our industry-leading security solutions,” McCullen said in an online letter to customers.

Singtel gets to offer its customers better security solutions

On the other hand, Singtel gets more than three million subscribers in 96 countries, which represents a door to new markets for the telco’s business.

Apart from this, its currently available cloud-based solutions will integrate a security service that can be offered as an end-to-end information and communications technology (ICT) solution to business customers.

Singtel’s goal, as the group’s CEO Chua Sock Koong said, is to become a global player in cyber security. “Trustwave's deep cyber security capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cyber security space,” she stated.

At the moment, the cyber security company has a total of 56 patents, either granted or pending, and relies on a unified cloud-based portal called TrustKeeper to distribute its security and compliance services across the globe.