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July 6, 2009

SecureWorks acquires VeriSign’s MSS business

VeriSign aims to focus on its core internet infrastructure businesses

By CBR Staff Writer

SecureWorks, a provider of security services, has acquired the Managed Security Services (MSS) business from VeriSign, a provider of internet infrastructure offerings. The MSS business helps enterprises to monitor and manage their network security infrastructure.

SecureWorks claimed that this acquisition will strengthen its position as a security services provider to organisations of all sizes.

Jim Bidzos, executive chairman of the board of directors and chief executive officer on an interim basis at VeriSign, said: The sale of the Managed Security Services business is another important step toward VeriSign’s divestiture goals as we continue our focus on core Internet infrastructure businesses.”

SecureWorks and VeriSign signed an agreement to share data and intelligence between the VeriSign iDefense business and the SecureWorks security services business.

“First and foremost, I believe this acquisition benefits clients of both businesses because it expands the depth and breadth of our security services giving us even better tools and security intelligence with which to protect our clients,” said Mike Cote, chairman and CEO of SecureWorks.

Post-closing, SecureWorks has approximately 2,600 clients including four of the Fortune 10 and anticipates run-rate revenues of more than $100m annually. The company has also expanded its presence outside of North America with clients, channel partners or operations in more than 50 countries, including the U.K., Saudi Arabia, Taiwan, Finland, Spain, Brazil and Mexico.

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