MC2 Security Fund, a growth equity fund affiliated with Chertoff Group, has completed its acquisition of managed security services provider Trustwave.
Trustwave is a managed security services provider specializing in managed detection and response, cyber advisory, database security, and penetration testing. The company provides comprehensive offensive and defensive cybersecurity services, and this partnership will help expand its global footprint. Investment Group MC2 makes private equity investments in high growth companies in the security and risk management space. Chertoff Group provides professional advisory services to organizations, and this transaction places Trustwave in front of Chertoff Group clients in the commercial and public sectors.
Trustwave released Trustwave Managed SIEM (Security Information and Event Management) in October 2023. It is available as part of managed security services for Microsoft Sentinel and Microsoft XDR (eXtended Detection and Response) security products.
“Trustwave executives said they saw changes in the cyber market and made the decision to focus on the emerging MDR market. and co-managed SOC services have experienced significant growth,” IDC Worldwide Security Services Research Manager Scott Tiazkun said in a statement. “This growth has been particularly pronounced among large companies in the healthcare, financial services, hospitality, transportation and logistics, retail, and manufacturing industries.”
The $205 million sale of Trustwave by Singapore-based telecom giant Singtel to MC2 Security Fund was originally announced in October. Singtel acquired a 98% stake in Trustwave for $770 million in 2015, but struggled to scale the company. With the sale, Singtel planned to refocus its operations in the Asia-Pacific region.