Roughly five months after agreeing to merge, security firms Accuvant and FishNet Security said on Tuesday that the new, combined company will have a new name that will kick in during the summer of 2015.
Trying to combine the current corporate names into a single entity would have resulted in an awkwardly named firm, so the companies have decided on an entirely new name: “Optiv Security“. The company explained “Optiv” as a newly coined word derived from “active” and “operative,” alluding to intelligent collaboration.
According to the company, Optiv was selected as the winner after an extensive review process that included assessing more than 1,200 possibilities.
“It evokes the idea of giving organizations a clear field of vision, helping them understand their options, and providing them with what they need to take action and to successfully execute,” the company said.
Founded in 2002, Accuvant was acquired by private equity firm Blackstone in March 2014. Investcorp acquired a majority stake in FishNet Security in January 2013.
With its global headquarters located in Denver, Optiv will have 60 offices, training and security operations locations across the United States and Canada and have nearly 1,500 employees.
The company will be led by Accuvant chief executive officer Dan Burns who will become chief executive officer. FishNet Security CEO Rich Fennessy will stay onboard as an advisor to assist in the integration effort, the companies previously said.
“The Optiv name and brand launch, scheduled to take place this summer, will represent an important milestone in the evolution of our company,” Burns said in a statement. “It will serve as the umbrella under which Accuvant and FishNet Security will formally become one, entirely cohesive, advanced and comprehensive cyber security solutions provider. I truly am looking forward to beginning to operate as Optiv later this year, and to building on our previous brands to make Optiv the most trusted partner in our space.”
“I’m excited about the name Optiv. It’s concise, descriptive and speaks to today’s security needs,” said Steve Perkins, chief marketing officer for Accuvant and FishNet Security. “We feel confident that Optiv and all that it stands for will result in an identity that is extremely meaningful to our clients, employees, partners and shareholders, and will stand the test of time.”
The newly formed company has not mentioned a possible IPO, but investors will likely push for this to happen after the merger is complete and running efficiently.
