Merger creates rival for Symantec

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Merger creates rival for Symantec

Information security services companies TruSecure and Betrusted have merged to form a new company called Cybertrust.

The new company will combine risk management consulting services and products from TruSecure with security services from Betrusted, and sell both managed security services and security software, according to Brett Jackson, chief operating officer of Cybertrust.

"For customers who want us to do managed security, or outsource their security, we have that capability. Others want to do it themselves, and we have capabilities there. We understand what good security practice is, from risk management to compliance," he said.

Cybertrust will employ around 1,000 people globally and have annual revenue of about $160m (£89.2m), he said.

Betrusted, formerly based in New York, was a wholly owned subsidiary of Bank One's One Equity Partners, which bought the group from PricewaterhouseCoopers in January 2003. The company provided managed security services to companies in the financial services, manufacturing, telecommunications and health-care industries, specialising in identity management, Jackson said.

Betrusted has also pursued an aggressive acquisitions schedule in recent months. This year the company bought an 85% share of Ubizen, a managed security services provider based in Brussels. The company also purchased Baltimore Technologies' PKI and web hosting services in December 2003.

TruSecure was a privately-owned venture-backed company. Details of the merger were not disclosed.

John Becker, TruSecure's chief executive will take over as chief executive of the new company, which will compete with companies such as Symantec, offering product-agnostic security consulting expertise and a support network spanning 27 countries to 2,000 companies around the world, Jackson said.

Paul Roberts writes for IDG News Service


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