3 MSSPs Merge to Provide Cybersecurity Services, Consulting
Sunstone Partners, a growth equity firm, has built an MSSP powerhouse by acquiring three managed cybersecurity services firms: Terra Verde Security, TruShield Security Solutions and Sword & Shield Enterprise Security.
The three companies have been combined under the name Avertium. The new company will focus on supporting mid-to-large enterprises, making it “one of the largest managed cybersecurity services companies focused on this market,” according to Sunstone.
Financial terms weren’t disclosed.
With more than 150 employees and growing, and security operations centers in Arizona and Tennessee, Avertium serves more than 1,200 customers in retail, health care, hospitality, financial services, manufacturing and the public sector.
Avertium will be led by Jeff Schmidt, who previously held executive leadership roles at a variety of technology and security companies, including International Network Services, All Covered, BT Counterpane, SQS and Authomate.
“People, process and policies supported by technology and automation are the five basic elements for a pragmatic and disciplined approach to good cybersecurity hygiene,” Schmidt said. “We will build on the success and pedigree of the distinguished organizations we have brought together.”
While at BT, Schmidt led the integration and assimilation of BT’s global security acquisitions, and developed its cloud-based portfolio that supported companies globally. He, along with each of the companies’ executive teams, will form Avertium’s go-forward management team.
“Avertium is the new cyber element, and we are uniquely positioned with our team to deliver superior business value leveraging a next-generation, cybersecurity-as-a-service framework,” he said.
Avertium’s core portfolio includes managed cybersecurity services, compliance assessments and other security advisory and training services.
“We see tremendous opportunity for Avertium to be the market leader in what is today a highly fragmented managed cybersecurity services space,” said Mike Biggee, Sunstone’s co-founder and managing director. “And when you combine Jeff’s extensive cybersecurity experience and his track record of innovation and scaling organizations with the skilled capabilities we now possess from the three acquired companies, Avertium clearly has the edge.”