Private Equity-backed Entrust Defends Governments and Businesses from the Emerging Threat of Cyber-Attacks
Judge: “Private equity is long-term capital that is being put to use to solve some of our country’s greatest security challenges.”
Washington, D.C. – With reports of cyber-attacks on the rise, governments, businesses and consumers alike are concerned about securing private data like the identities of government employees abroad, intellectual property and banking transactions. A new video released today by the Private Equity Growth Capital Council as part of its ongoing Private Equity at Work campaign highlights how private equity is part of the cyber security solution.
The video features Entrust, a leading provider of identity-based security solutions. With capital support and operational expertise from private equity firm Thoma Bravo, Entrust has transformed to better provide critical, innovative services to help government entities and corporations manage the growing threat of cyber security.
“What Entrust does matters,” says David Wagner, Senior Vice President and CFO of Entrust. “We protect employees of the U.S. State Department and their families by shielding their identities and addresses when they are overseas. We also guard the money transactions of many of the world’s central banks. Safeguarding these transactions is extremely important.”
Thoma Bravo’s investment team helped Entrust innovate by extending its traditional software authentication to mobile devices and the cloud. This better protects customers ranging from the U.S. government to banking institutions from the threat of a cyber attack.
“You have management, the board and an owner that are all equally aligned around an outcome, which is to drive innovation in the security space and deliver next generation results off that platform. That is what Thoma Bravo and Entrust leadership teams have been able to do,” said Entrust CEO Bill Conner.
“Private equity is long-term capital that is being put to use to solve some of our country’s greatest security challenges,” said Steve Judge, president and CEO of the PEGCC. “Every day, private equity helps companies like Entrust grow and innovate so they can provide better, more reliable services that benefit us all.”
Since partnering with Thoma Bravo, Entrust has increased revenues from $91 million to an expected $120 million in 2013, and has grown “software as a service” and subscription revenues to nearly 70 percent of the company’s total revenue.
“If you read or watch the news, you know that cyber threats are on the rise,” said Scott Crabill, Managing Partner of Thoma Bravo. “We have been partners with Entrust and management now for four years, and innovation is at an all-time high,” he concluded.
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