Cybertrust to open for business in 30 days

TruSecure and Betrusted formally announced Tuesday their plans to merge and create a security company that will focus on consulting and managed services for large corporations.

The deal between the two privately held companies is expected to close within 30 days. Terms of the agreement were not disclosed.

As previously reported, the combined company will be called Cybertrust. It will have 4,000 customers and is expected to generate about $160 million in annual revenue. Cybertrust will be privately held.

One of the main drivers of the merger was to give Betrusted, which primarily operates in Europe and Asia, a greater presence in North America, while letting TruSecure expand beyond its North America market, Siobhan MacDermott, a Betrusted spokeswoman, said in an earlier interview.

TruSecure has a brand name in the security consulting business. And Betrusted, which has largely grown through acquisitions, serves three security markets: public key infrastructure, security consulting, and managed security services, such as firewall monitoring.

After the merger, security consulting will represent a big piece of the pie for the organization. Consulting currently is an area where the two overlap in terms of expertise, though not in geographic markets.