Ambiron and Trustwave Merge
Combined Company Forms Premier Data Security and Compliance Management Firm
CHICAGO and ANNAPOLIS, MD – March 14, 2005 – Ambiron, LLC, and TrustWave Corporation announced today that they have merged effective immediately. The combined company provides more than 25,000 businesses throughout the world with data security and compliance services to meet numerous regulatory requirements such as the Payment Card Industry (PCI) Data Security Standard, Heath Insurance Portability and Accountability Act (HIPAA), Gramm Leach Bliley Act (GLBA), the Federal Information Security Management Act (FISMA) and Statement on Auditing Standards Number 70 (SAS-70). The new organization will offer industry leading compliance solutions and professional services to meet the needs of their clients in the Electronic Payments, Financial Services, Healthcare and Government sectors. The merger is expected to generate product and service delivery synergies to provide clients of both companies expanded solutions and services. “The new company will continue to provide the services and solutions our clients have come to expect. All of Ambiron’s and TrustWave’s clients will benefit from the merger; they will continue to receive the highest level of support and service and, with the synergies of the combined company, will have access to enhanced service and solution offerings,” said Kevin Bradford, formerly chairman and chief executive officer of TrustWave who will serve as chairman of the board of the combined company. TrustWave was privately backed by FTVentures, a San Francisco-based private equity firm. Terms of the transaction were not disclosed. Robert J. McCullen, formerly co-founder and managing partner of Ambiron, becomes the chief executive officer and will oversee the operations of the combined company. Joseph Patanella, founder of TrustWave and most recently its president and chief operating officer, becomes the president of the combined company with responsibility for enterprise strategy, as well as product and technology development. Mr. McCullen said: “This is truly a unique opportunity for our two companies. The merged company’s leadership in data security and compliance within the payment industry combined with TrustWave’s deep information security experience and ten-year reputation for excellence with financial services, healthcare and government clients, creates an immediate opportunity to offer an expanded range of compliance, information security and managed services to thousands of businesses.” Mr. Patanella said: “This combination creates a company uniquely qualified to address information assurance and compliance requirements for all businesses. For the past ten years, TrustWave has been highly regarded for its solutions and expertise in information security, risk management and compliance; these attributes will make a signicant contribution to the combined company’s bottom line. In addition, the combined talent pool of both companies will create significant value and serve our entire customer base well – from acquiring banks to merchants, from financial and healthcare services to government agencies and enterprise clients.” Highlights of the Merger: ¾ Customer Benefits: The merged company will draw upon the intellectual capital, technical expertise and experience of a deeper and more diverse workforce. The combined company will be better able to invest in and deploy new technologies to help businesses meet regulatory requirements such as the PCI Data Security Standard. ¾ Compliance Customer Portals: The compliance customer portals of both companies – Ambiron’s Vital Signs™ and TrustWave’s Trustkeeper® – will continue operations with no immediate service change for customers of the respective portals. – more – AMBIRON and TRUSTWAVE/Page Two ¾ Service Offerings: The merged company will offer a wide range of data security and compliance related services to businesses around the world including: 9 Compliance (PCI, GLBA, SOX, SAS-70, HIPAA, FISMA, etc.) 9 Incident Response and Computer Forensics 9 Managed Security Services & Network Monitoring 9 Network and Application Security Assessments 9 Vulnerability Scanning 9 Risk Management ¾ Company Name: The combined company will be part of TrustWave Holdings Inc., and will operate under the Ambiron name in the payment industry; the TrustWave name will continue to be used to market the company’s services to other verticals such as financial services, government and health care. ¾ Headquarters: Chicago will serve as the combined company’s headquarters. The TrustWave Annapolis, MD, office will serve as the company’s East Coast headquarters and Product Development Division. Mr. McCullen will be based in Chicago; Mr. Patanella will be based in Annapolis. ¾ Deal Terms: The merger is effective immediately. The terms of the transaction are confidential.
Ambiron provides data security and compliance services to businesses in the financial services vertical. For the payment industry, Ambiron helps banks, merchants and service providers mitigate their risk by validating compliance with the card association data security programs for American Express, Discover, MasterCard, Visa Canada and Visa USA. Ambiron is a leading provider of networking, consulting, and telecom services for timesensitive and secure applications. Through its proprietary compliance portal, Vital Signs™, Ambiron serves more than 25,000 clients including financial organizations, global electronic exchanges, educational institutions, and business services firms. Headquartered in Chicago with offices throughout the United States, Ambiron’s staff is composed of network and data security professionals who have substantial experience in delivering services to large and mid-sized companies.
TrustWave, formed in 1995, is a leader in information security and compliance, delivering proven solutions and services to the payment card and financial services industry, Fortune 1000 and government organizations. TrustWave is an authorized provider of compliance solutions and forensic services by both MasterCard and Visa. The company’s flagship products TrustKeeper® and TrustMinder™ were built from the ground up to monitor network security, manage risk and assure compliance with industry standards and regulations. TrustWave’s management team combines decades of proven IT security, network management, and financial services industry expertise. The company’s services allow organizations to prevent costly security failures by establishing and maintaining overall compliance with corporate standards and federal regulations for information security. TrustWave has provided security services to corporate clients such as AIG, Bank One, First Data Corporation, The National Football League, and The New York Times.
FTVentures is a private equity firm focused on software, business services and transaction processing companies. The firm provides venture capital as well as growth capital for build-ups, recapitalizations, and spinouts. FTVentures’ unmatched global financial services partner network—including 37 of the world’s leading financial institutions—provides the firm with a unique vantage point into the business-driven IT and operating challenges of the global enterprise. Founded in 1998, FTVentures currently has $623 million under management. The firm has offices in San Francisco and New York.
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