In still more industry consolidation, TruSecure Corporation, Betrusted Holdings, and Ubizen NV announced a merger that will create a new company, Cybertrust. While the merger is still subject to shareholder and regulatory approval, Cybertrust will combine the resources of TruSecure and Betrusted along with the resources of Ubizen NV, which is majority owned by Betrusted.
A spokesperson for the newly formed Cybertrust said, "Cybertrust was conceived and built around creating a global information security leader able to respond to today’s security challenges and assist organizations in creating pervasive trust for all their transactions and interactions. Betrusted brings industry leading identity management solutions that secure access to mission-critical information assets and manage the digital identities of users accessing those assets. TruSecure’s expertise in intelligent risk management and compliance products and services ensure good security process, effective security practices and metric-driven risk management. Ubizen’s focus on the detection and prevention of security threats and vulnerabilities as well as expertise in security policies and infrastructures significantly improve an organization’s security posture. Combining these competencies, Cybertrust is uniquely positioned to create a level of trust for clients that addresses their vulnerability issues, evolving regulatory compliance requirements and identity management needs."
The new company will be led by John Becker (former chairman and CEO of TruSecure ) will serve as Cybertrust’s chief executive officer. Rick Smith (former Chairman of Betrusted ) will become chairman of Cybertrust. Brett Jackson (Former CEO of Betrusted), will serve as COO; Stijn Bijnens, (co-founder and CEO of Ubizen) will become the chief strategy officer; Jim Murphy (former CFO of TruSecure) will be CFO; Peter Tippett (inventor of the world’s first anti-virus product) will be the company’s CTO.
The newly formed Cybertrust has some 1,000 employees and 4,000 clients worldwide with $160,000,000 in annual revenue.