Verizon Buys Cybertrust
Verizon Communications Inc.'s Business unit plans to acquire managed security vendor Cybertrust in an effort to pump up its cybersecurity offerings, Verizon announced Monday.
The financial terms of the deal were not disclosed. The companies expect the transaction to close in 60 to 90 days, Verizon Business said in a press release.
The goal of the acquisition is to make Verizon Business a leading provider of managed information security services to large business and government customers, Verizon said.
Cybertrust is a cybersecurity firm with 800 employees and operations in 30 locations worldwide. Its services include identity management, managed security services, vulnerability and threat management, security certification programs and a range of professional services, such as risk analysis, forensics and incident response services.
The acquisition shows Verizon Business' commitment to "providing world-class security solutions," John Killian, president of Verizon Business, said in a statement.
Verizon Business will also acquire ICSA Labs, an independent division of Cybertrust. ICSA Labs provides security product certification services and has tested and certified 95 percent of the installed security products on the market today, according to Cybertrust.
Cybertrust's identity management unit gives Verizon Business new capabilities to help its customers manage user identities across multiple systems and applications, Verizon said. Verizon Business will offer a range of products for governments and large businesses to manage electronic identities, the company said.