Trustwave acquired by Asia’s leading communications company

Tessa McLean

File 46258

Singtel, Asia's leading communications company, has acquired Chicago-based Trustwave. The cybersecurity firm will operate as a standalone business unit of Singtel, maintain its Chicago headquarters, and the current Trustwave management team will drive the operations and growth of the business. The acquisition strengthens Singtel's information security capabilities and bolsters Trustwave's ability to expand its leadership in managed security services globally.
Trustwave provides cloud-based, automated data protection, risk management and threat intelligence to combat cybercrime. Their software helps companies secure everything from servers to cell phones. Trustwave was initially slated for an IPO in 2011, but backed out due to post-recession market conditions. Since then it has grown to over 2.7 million customers. The valuation of Trustwave has not been publically stated but is likely above a billion as the company grew from $58.3 million revenue in 2008 to $111.5 million in 2010. It also grew from 900,000 customers in 2010 to 2.7 million in 2015.
"We are excited to join Singtel and to leverage its global presence and resources to accelerate worldwide adoption of our security solutions," Trustwave CEO Robert J. McCullen said in a statement. "This strategic partnership creates an unparalleled opportunity to combine Singtel's robust information and communications solutions with Trustwave’s industry-leading security technologies and managed services platform to deliver cutting-edge solutions that will enhance our customer experience. Singtel is the perfect partner for us as we continue to help businesses fight cybercrime, protect data and reduce security risk, and the Trustwave team is thrilled to become a part of such a prestigious and innovative organization."
Following the close of the acquisition, Singtel plans to combine its state-of-the-art information and communications technology (ICT) with Trustwave's broad portfolio of managed security services. The acquisition will help expand Singtel's existing line-up of cloud-based solutions to encompass security services, to create an end-to-end ICT offering to business customers-bolstering Singtel's leadership position in the managed services market.
"We aspire to be a global player in cyber security. We have established a strong security business in the region, both organically and through strategic partnerships with global technology leaders," Singtel Group CEO Chua Sock Koong said in a statement. "Our extensive customer reach and strong suite of ICT services, together with Trustwave’s deep cyber security capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cyber security space."
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