Trustwave, a provider of cloud-based compliance and information security solutions, today announced that it has signed a definitive agreement to acquire Irvine, California-based M86 Security, a provider of Web security and anti-malware solutions.
Through the acquisition, Trustwave will broaden its portfolio and bring increased protection offerings to its customer base. Additionally, Trustwave will gain M86 Security's base of more than 25,000 customers world-wide and its network of channel and service provider partners.
Trustwave also said the acquisition would boost its international presence, particularly in the Europe, Middle East and Africa (EMEA) and Asia Pacific regions.
In terms of products and technology, Trustwave gains M86 Secure Web Gateway, M86 WebMarshal, M86 Web Filtering and Reporting Suite products, and M86 MailMarshal email security solution.
M86 Security Labs will become part of Trustwave SpiderLabs, the security team within Trustwave focused on penetration testing, incident response, application security and security research.
Trustwave said it would add the M86 Secure Web Gateway to its portfolio of Trustwave Managed Security Services. The company also plans to integrate M86 Security products into Trustwave's cloud-based TrustKeeper portal.
Chicago based Trustwave filed for an IPO back in April, 2011 but in August, 2011 decided to put those plans on hold. At the end of 2010, the company had over 900,000 subscriptions to its TrustKeeper software-as-a-service compliance management offering and generated $111.5 million in revenue, with a net loss of $4.6 million. Revenue for 2008 was $58.3 million, which jumped to $73.1 million in 2009.
The acquisition is expected to close within the next few weeks, and financial terms were not disclosed.
Privately-held M86 Security has approximately 300 employees worldwide.