- Cybertrust
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CyberTrust was a security services company formed in Virginia in November 2004 as a result of a merger of the TruSecure and Betrusted security companies. Cybertrust acquired a large stake in Ubizen, a European security services firm based in Belgium to become one of the largest information security firms in the world.
History
CyberTrust was originally founded as a subsidiary of GTE Corporation's Contel Federal Systems, Inc. Then, in 2000, GTE sold CyberTrust to Ireland-based security company Baltimore Technologies plc for $150 million dollars. In 2003, Baltimore Technologies started to divest itself from its operating companies and sold all digital certificate operations to Betrusted Holdings, Inc.. A year later, in September 2004, Betrusted announced its intention to merge with former competitor TruSecure Corporation and, in November, the resulting company was incorporated in Virginia under the name CyberTrust. Verizon Business then acquired Cybertrust in 2007,[1] reuniting it with its former parent (Verizon was created by the merger of GTE and Bell Atlantic). Financial terms were not disclosed.
Cybertrust used its majority shareholding to perform a share dilution of the remaining Ubizen shares, forcing it to acquire the remaining shares and delist Ubizen in 2005.
Betrusted was originally created by PwC and sold to OneEquity Partners, a division of Bank1. OneEquity Partners also purchased 90East and SecureNet (who bought the PKI component of Baltimore and the gateway operations of iSecure).
References
- ^ "Verizon Business to Acquire Information Security Services Leader Cybertrust: Combination Creates Global Security Powerhouse". Verizon Business (press release). 2007-05-14. http://www.verizonbusiness.com/about/news/displaynews.xml?newsid=22573&mode=vzlong&lang=en&width=530&root=/worldwide/about/news/&subroot=release.xml&langlinks=off.
External links
Categories:- Companies established in 2004
- Companies based in Fairfax County, Virginia
- Computer security companies
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