Cybertrust Formed by the Merger of Betrusted and TruSecure

Tuesday 21 September 2004 15:22 CET | News

Betrusted Holdings and TruSecure Corporation have entered into a merger agreement to create the worlds largest privately-held information security company.

The agreement is subject to shareholder and regulatory approvals. With 1,000 employees, 4,000 clients worldwide and $160,000,000 in annual revenue, Cybertrust combines the in-depth operational security expertise, knowledge, and technology of Betrusted, TruSecure and Ubizen (a majority-owned subsidiary of Betrusted) to assist large enterprises and governments with todays critical information security and compliance issues across the entire security lifecycle. Increasing vulnerabilities, threats, and regulations like the Health Insurance Portability and Accountability ACT (HIPAA), Gramm-Leach-Bliley Act (GLBA), Sarbanes-Oxley Act (Sarbox), Basel II, and EU directives on data protection will drive industry and governments to spend billions of dollars on the accessibility and security of information. Cybertrust was conceived and built around creating a global information security leader able to respond to todays security challenges and assist organizations in creating pervasive trust for all their transactions and interactions. Betrusted brings industry leading identity management solutions that secure access to mission-critical information assets and manage the digital identities of users accessing those assets. TruSecures expertise in intelligent risk management and compliance products and services ensure good security process, effective security practices and metric-driven risk management. Ubizens focus on the detection and prevention of security threats and vulnerabilities as well as expertise in security policies and infrastructures significantly improve an organizations security posture. Combining these competencies, Cybertrust is uniquely positioned to create a level of trust for clients that addresses their vulnerability issues, evolving regulatory compliance requirements and identity management needs. Cybertrusts capabilities and solutions can be delivered through professional services or as a managed service utilizing an enterprise software platform at a customers site or through multiple, accredited Trustcenters located throughout the world. This allows clients to engage Cybertrust in a way that meets their specific requirements. With Company revenues evenly balanced between clients in Europe, Asia and the Americas, Cybertrust is truly a global provider with a unique ability to provide strong local presence worldwide, as well as the ability to service large organizations that have distributed operations in multiple countries. Cybertrusts senior leadership team is built around a number of successful security industry veterans. John Becker (former chairman and CEO of TruSecure and a co-founder and former CEO of AXENT Technologies) will be Cybertrusts Chief Executive Officer. Rick Smith, former Chairman of Betrusted, will continue as Chairman with Cybertrust. Brett Jackson (Former EMEA CEO of Betrusted, and a co-founder and former COO of AXENT) will serve as COO; Stijn Bijnens, co-founder and CEO of Ubizen will be the Chief Strategy Officer; Jim Murphy (former CFO of TruSecure) will be CFO; Peter Tippett (inventor of the worlds first anti-virus product) will be the companys CTO.

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