US telecom company Verizon has outlined plans to make data security a major part of its business having completed the acquisition of managed security services company Cybertrust.
Verizon completed the deal earlier than expected and will see the two firms combine assets, products, services and people into the enlarged company's Version Business division. Customers of the company will be offered security products and services under the "Verizon Business Security Solutions powered by Cybertrust" banner.
The deal also sees the telco pick up security product certification entity ICSA Labs, which remains an independent division of the company. Verizon Business will also continue to run seven security operations centres around the world that Cybertrust operated.
"We've combined the world's most interconnected IP network with more than 27 years of combined security experience and a vendor-agnostic approach to delivering security solutions. No other player can offer our breadth and depth of security expertise," said said Kerry Bailey, vice president of Verizon Business Security Solutions.
The merger gives the company a new focus in the area of identity management as well as offering a full range of products and services for enterprises and government to manage electronic identities that enable authentication management, information protection and secure access to resources across enterprise systems.
* In other news, Cambridge-based search specialist Autonomy is to buy out US-based content archiving and electronic discovery software company Zantaz for $375 million (187 million).
The deal will see Zantaz becoming a division of the enlarged company and its chief executive Steve King will stay as head of the division. The transaction is expected to complete by August this year and is subject to the approval of shareholders and regulators. The boards of both companies have already approved the transaction.
Last year, Autonomy posted profits of 24 million on revenues of 125 million. Privately held Zantaz reported $106 million (53 million) in revenues according to a May 2007 IDC research report.
