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Sysnet acquires Trustwave's SecureTrust unit

Source: Sysnet

Sysnet Global Solutions, a leading provider of cyber security and compliance solutions, today announced that it has acquired SecureTrust, a division of Trustwave, to further expand its cyber security solutions and accelerate its market expansion.

SecureTrust, a leading provider of Payment Card Industry (PCI) compliance, provides innovation and processes for achieving and maintaining compliance and security. SecureTrust has over 20 years of experience providing solutions to customers in over 96 countries and is headquartered in Chicago, IL.

Sysnet is focused on delivering integrated compliance and security solutions to businesses globally. The addition of SecureTrust is a natural fit that broadens 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 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.

SecureTrust clients moving under Sysnet will benefit significantly from the new solution set, delivery team, and geographic coverage that will be unmatched in the market. 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 providing premium solutions and support will give its new clients confidence that their changing needs will be met and exceeded into the future.

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. 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 build a brand and culture that is distinctly its own and separate 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.

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