2004 Archives

Cybertrust formed by Merger of Betrusted and Trusecure - creates world's largest privately-held information security company

New company blends deep expertise in security intelligence, services and technology from Betrusted, TruSecure and Ubizen N.V.

Herndon, VA and New York, NY — September 21, 2004 — Betrusted Holdings, Inc. and TruSecure Corporation today announced a definitive merger agreement to create the world’s 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 indepth operational security expertise, knowledge, and technology of Betrusted, TruSecure and Ubizen (a majority-owned subsidiary of Betrusted) to assist large enterprises and governments with today’s 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.

“Persistent security will be needed to strategically address the vulnerability, threat, compliance and identity issues facing organizations and governments today,” said. John Becker, CEO of Cybertrust. “Cybertrust is uniquely positioned with the people, industry expertise, and services capability in every major region of the globe to meet the requirements of the most demanding organizations, many of whom are already clients.”

“I’ve worked extensively with both these companies in the past, and I think the merger has tremendous potential,” said Pamela Fusco, Chief Security Officer at pharmaceutical conglomerate Merck & Co. Inc. “The market is searching for a security company that offers a broad range of capabilities, deep technical and industry expertise and a worldwide presence. Cybertrust has exactly those advantages and many more, and I expect it to have a strong impact on the entire security market.”

Cybertrust was conceived and built around creating a global information security leader able to respond to today’s 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. TruSecure’s expertise in intelligent risk management and compliance products and services ensure good security process, effective security practices and metric-driven risk management. Ubizen’s focus on the detection and prevention of security threats and vulnerabilities as well as expertise in security policies and infrastructures significantly improve an organization’s 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.

"Deep security expertise and intelligence are the currencies that will dominate enterprise security in the coming years," said Matthew Kovar, vice president at the Yankee Group, a leading analyst firm. "The combination of TruSecure and Betrusted creates a global security management leader that can offer intelligence-driven products and services in the areas of threat, vulnerability, compliance and identity management to any organization, anywhere in the world."

Cybertrust’s capabilities and solutions can be delivered through professional services or as a managed service utilizing an enterprise software platform at a customer’s 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.

Cybertrust’s 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 Cybertrust’s 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 world’s first anti-virus product) will be the company’s CTO.

About Betrusted Inc.

Betrusted is a global provider of security and trust services to the world’s leading organizations and government agencies. Through its identity management solutions, leading PKI UniCERT™, expert professional services and managed security services, Betrusted offers clients a comprehensive portfolio of security solutions to help reduce costs, increase revenues and comply with government and industry regulations. Betrusted is wholly owned by One Equity Partners, a private equity arm of JPMorganChase. For more information, please visit www.betrusted.com.

About TruSecure Corp.

TruSecure is the leading provider of intelligent risk management and compliance products and services. TruSecure dramatically improves security and reduces risk by helping organizations make better security decisions and maximizing the effectiveness of existing security people, processes and technology. Leveraging TruSecure’s security knowledge and intelligence gathering resources—including ICSA Labs®, the global leader in information security product certification—as well as innovative technology and time-tested processes, our customers can predict which vulnerabilities present real risk, prioritize remediation efforts, quickly adapt to changes in the security threatscape, measure progress in improving their security posture, and document compliance with applicable security policies, standards and regulations. For more information, please visit www.trusecure.com.

About Ubizen.

Ubizen is the principal provider of Managed Security Solutions for global businesses. Companies rely on Ubizen OnlineGuardian® services to manage, monitor and support security devices 24x7x365. Ubizen's Professional Services complement Ubizen OnlineGuardian services by helping enterprises plan and implement security policies and infrastructures. Ubizen also protects Web servers against application-level attacks with Ubizen DMZ/Shield™ Enterprise. For more information visit www.ubizen.com.