Managed services provider Verizon Business on Monday closed its acquisition of Cybertrust.
The deal, announced May 14, makes Verizon Business a formidable challenger in the managed information security services market dominated by AT&T Inc. Verizon Business and Cybertrust now are integrating operations and plan to extend capabilities beyond the computer.
Verizon Business’ expertise has been in hosting and network and remote applications management. Cybertrust specializes in identity management, managed security services, vulnerability/threat management, security certification programs and professional services such as risk analysis.
Cybertrust’s capabilities give Verizon Business the edge it needs to help large enterprises and international government agencies protect their electronic transactions, said Kerry Bailey, a top Cybertrust exec who now serves as vice president of security solutions for Verizon Business. This is important because as more parties connect to one network – from telecommuters to partners to suppliers – the risk of a security breach skyrockets.
“You need to be able to secure data no matter where it is,” Bailey said.
That idea will branch into services offered by Verizon’s wireless and landline divisions. For example, the set-top boxes that work with Verizon Communications’ FiOS TV service must have encryption so users can buy movies, and possibly tangible products, over a secure connection. The same idea will apply to purchasing items and services over wireless devices, Bailey said.
Verizon Business, which also bought NetSec in 2005, now employs more than 1,100 security services personnel worldwide. It has not disclosed the terms of the Cybertrust transaction.
The deal included the purchase of ICSA Labs, a company that certifies security products and that will remain an independent unit.
Cybertrust www.cybertrust.com
Verizon Business www.verizonbusiness.com
