Global security vendor swallows Canberra’s 90East

Global managed security services provider beTrusted has bought Australian Internet security vendor 90East for an undisclosed sum as part of its global acquisition drive.

The US-based vendor first made headlines in July when it announced an offer to buy ASX-listed MSSP SecureNet for $110 million.

In recent months, the company has also bought three subsidiaries of US-based Baltimore Technologies; two in the UK and one in the US.

Paul O'Rourke, CEO at beTrusted Asia-Pacific, said 90East 'fits very well' into beTrusted's portfolio, asserting that the 'biggest benefit' was 'the strength and stability' the merged company would bring to the market. '[Also] the talent, skills and expertise of the people at 90East gives beTrusted Australia an unparalleled pool of knowledge in high level security to government, financial institutions, ecommerce providers and corporate customers,' O'Rourke said.

David Yuile, CEO at 90East, echoed SecureNet chief Geoff Ross's comments when the latter was acquired, claiming that becoming part of a global security operation was 'absolutely the best outcome for our customers'.

'We recognised that for service providers like 90East, being part of the global marketplace was really the way of the future. Consolidating our business with beTrusted's will boost services to customers and accelerate growth for the combined company,' Yuile said.

The Canberra company, formerly dubbed SecureGate, began offering managed network security to Federal departments and agencies in 1998. Last year, 90East bought managed hosting services provider Peakhour.

Earlier acquisition SecureNet has been re-named beTrusted Australia Pty Ltd.
SecureNet's Ross told CRN at the time of the initial offer that the buyout would take SecureNet globally 'to a new level'. SecureNet would be strengthened by synergies between both businesses.

'It can become a significant element in a global business -- which I think is fantastic ... The amazing thing about these two businesses is we actually had the same strategy and it's very unusual to have such a commonality of vision. Global net security is by nature global, so there's no room for the local provider out there who isn't a niche player,' Ross said at the time.

beTrusted is backed by Bank One, which claims to be 'America's sixth largest bank'. It offers professional services, trust services including gatekeeper-accredited public key infrastructure (PKI) and security-related products.