Security Firm Deals for Services Unit

Friday, June 7, 2013 @ 03:06 PM gHale

Security services continues to move forward in consolidation mode as SilverSky acquired the managed security services division of StillSecure.

The Milford, CT-based security firm, formerly known as Perimeter E-Security, built out managed security services in recent years. The firm said the StillSecure division will add new log archiving capabilities and a web application firewall service. SilverSky has about 95 clients in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors with a deal size of more than $25,000, according to Forrester Research. The company said it has 6,000 customers.

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In addition to bringing on about 40 people, including eight security engineers, SilverSky will also add Superior, CO-based StillSecure’s two security operation centers located in Denver and Ft. Lauderdale, FL. StillSecure has about 30 clients with a deal size of greater than $25,000, according to Forrester.

SilverSky CTO Andrew Jaquith pledged the company’s full support of current StillSecure customers and channel partners. The two StillSecure locations will increase redundancy for SilverSky’s operations, Jaquith said. Integration of back-end operations should take about six months. Merging the sales and account teams should take about 30 days.

“We’re not looking to do anything radical that would make current StillSecure customers unhappy,” Jaquith said. “We are bringing their security operations and engineering and sales resources. There will be a fair amount of continuity with the staff.”

SilverSky’s business consists of mainly direct sales, while StillSecure sales have been nearly 100 percent through the channel. SilverSky’s managed security services currently provide network monitoring, security information event management and unified threat management systems. The company can support firewall, IDS/IPS and VPN remote user access services as part of a UTM package or on an a la carte basis. SilverSky will continue to offer cloud-based email security and its Secure Cloud Exchange service for Microsoft Exchange.

SilverSky announcement is one in a wave of mergers and acquisitions in recent months associated with managed security services.

Deloitte last week acquired Vigilant, Inc., a consulting and managed services provider specializing in security monitoring and threat intelligence. The company will operate under the Vigilant by Deloitte brand. Vigilant’s customer base consists of 1,000 global clients, mainly in the financial sector. Meanwhile Chicago-based security firm Trustwave also dealt for SecureConnect, an Eden Prairie, MN-based security services provider that focused its services on providing PCI compliance and network security for clients in the hospitality industry.

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