Trustwave, a Top 250 MSSP owned by Singtel, has sold its payment card industry compliance business to Sysnet Global Solutions for $80 million, the companies disclosed today.
This is technology M&A deal number 665 that MSSP Alert and sister site ChannelE2E have covered so far in 2021.
Singtel has been evaluating steps to optimize Trustwave's business since May 2021. Key moves include tucking certain Trustwave assets into Singtel, NCS and Optus in the Asia Pacific region.
In a prepared statement about the Trustwave business updates, Singtel Group CEO Yuen Kuan Moon said:
“This divestment is the first step following an extensive review of the Trustwave business and serves to sharpen its focus and reposition it for growth. With enterprises pivoting fast to hybrid, multi-cloud environments, the cyber threat landscape has changed considerably, and the need for a focused set of services centered on managed threat detection and response has grown. Trustwave can now better meet those needs by concentrating on its core offerings of managed detection and response, managed security services, and consulting services to help businesses reduce complexity and cyber risk in their environments.”
Added Eric Harmon, CEO of Trustwave:
“Trustwave is rapidly evolving to meet the needs of our clients, the demands of the market, and to effectively combat new and complex threat actors around the world. These business shifts allow us to focus on and accelerate our momentum as an industry leader in managed detection and response, world-class professional services, and data protection. Now, Trustwave has even greater capacity for innovation in critical areas for our growth, meeting the market and our clients where they need us most by expanding our investments in leading-edge tools, smart processes, and world-class cyber security talent.”
