Trustwave, Authentify Find Buyers
April 9, 2015
Two Chicago companies in the security and authentication space were acquired this week. Trustwave, a cybersecurity company founded in 1995, was snapped up by Singapore telecommunications giant Singtel for $810 million. Trustwave will continue to operate as a standalone unit of Singtel, but will bolster the telco’s suite of managed services in the growing cybersecurity industry.
“We aspire to be a global player in cybersecurity,” said Chua Sock Koong, CEO of Singtel Group. “We have established a strong security business in the region, both organically and through strategic partnerships with global technology leaders. Our extensive customer reach and strong suite of ICT services, together with Trustwave’s deep cybersecurity capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cybersecurity space.”
Early Warning, a Scottsdale, Ariz.-based fraud prevention company, on Tuesday said it has acquired authentication technology provider Authentify. Early Warning, founded by issuing banks Wells Fargo, Bank of America, JPMorgan Chase, BB&T and Capital One in 1995, works with financial institutions to share data and prevent fraud. Authentify provides phone-based multifactor authentication solutions. Early Warning said it will leverage Authentify’s solution to offer authentication specifically designed for digital channels.
Terms of the deal were not disclosed.