Source: Srabin via iStock

MC2 Security Fund, a growth equity fund and an affiliate of The Chertoff Group, completed its acquisition of managed security services provider Trustwave.

As a managed security service provider, Trustwave specializes in managed detection and response, cyber advisory, database security, and penetration testing. The company offers comprehensive offensive and defensive cybersecurity services, and the deal would help expand its global reach. Investment group MC2 makes private equity investments in high-growth companies in the security and risk management realm. The Chertoff Group offers specialized advisory services to organizations, and this transaction would place Trustwave in front of Chertoff Group customers in the commercial and public sectors.

Trustwave released the Trustwave Managed SIEM (security information and event management) In October 2023, which is available as part of its Managed Security Services for Microsoft Sentinel and Microsoft XDR (eXtended detection and response) security products.

“Trustwave executives say they saw the cyber market shifting and made the decision to focus on the emerging MDR market. This has resulted in strong growth for the company’s MDR and co-managed SOC offerings as clients are looking for this combination of services,” IDC Worldwide Security Services research manager Scott Tiazkun said in a statement. “This growth is particularly pronounced in large enterprises in healthcare, financial services, hospitality, transportation and logistics, retail, and manufacturing verticals.”

The sale of Trustwave by Singapore-based telecommunications giant Singtel to MC2 Security Fund for $205 million was originally announced back in October. Singtel acquired a 98% stake in Trustwave back in 2015 for $770 million but struggled to scale the company. By selling, Singtel planned to refocus its business in Asia-Pacific.