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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. It was acquired by Verizon Business in 2007.
History
editCyberTrust was originally founded as a subsidiary of GTE Corporation's Government Systems Information Security Directorate. CyberTrust was focused on providing security services for electronic Commerce, such as authentication, privacy, integrity and non-repudiation, using Public Key Technology. In 2000, GTE sold CyberTrust to Ireland-based security company Baltimore Technologies plc for $150 million. In 2003, Baltimore Technologies started to divest itself from its operating companies and sold all digital certificate operations to Be Trusted 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.[citation needed]
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 One Equity Partners, a division of Bank 1. One Equity Partners also purchased 90 East and SecureNet (who bought the PKI component of Baltimore and the gateway operations of iSecure).
References
edit- ^ &lang=en&width=530&root=/worldwide/about/news/& subroot=release.xml lang links=off "Verizon Business to Acquire Information Security Services Leader Cybertrust: Combination Creates Global Security Powerhouse". Verizon Business (press release). 2007-05-14.
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External links
editExternal links
editCategory:Companies established in 2004 Category:Companies based in Fairfax County, Virginia Category:Computer security companies
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