Big MSSP Essentially Up for Sale
On the one hand, Trustwave ranks among the world’s Top 250 MSSPs. But on the other, parent Singtel is performing a strategic review of the business after the coronavirus pandemic impacted Trustwave’s ability to scale, Singtel said in a statement. The result of the strategic review, the parent company says, could involve:
- the restructuring of product or business segments; or
- a full or partial divestment or business combinations with other industry players.
In a prepared statement, Singtel Group CEO Yuen Kuan Moon said:
“We are open to all types of strategic partnerships and deals including inviting investors who have complementary capabilities and can enhance the value of the businesses. Cyber security remains core to our Group strategy and ICT offerings, and the review will be geared to ensure we capture the growth in Asia Pacific.”
Read between the lines, and it looks like Singtel may be seeking a strategic investor or buyer that allows Singtel to maintain cyber operations in Asia while perhaps shedding the MSSP efforts elsewhere around the world.
Trustwave’s MSSP and Cybersecurity Business Capabilities
Singtel acquired Trustwave for $770 million in 2015. Trustwave offers threat hunting, security technology management and other managed security services. The MSSP employs at least 2,000 cybersecurity professionals and has established partnerships with FireEye, Palo Alto Networks, Check Point Software Technologies and other cybersecurity providers. On the executive front, Trustwave hired HP and DXC veteran Eric Harmon in November 2020 to succeed Art Wong.
Meanwhile, M&A and investor demand for MSSPs appears strong. Recent buyers and investors in the MSSP market include Accenture, private equity firm Apax Partners, Atos and Wipro, among many others, MSSP Alert has reported.