SIEM and Log Management services provider EventTracker is merging with managed network security provider Netsurion. This transaction creates a combined company that will offer a broad suite of cybersecurity solutions to its customers.
Under the terms of the agreement, Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners and majority shareholder of Netsurion, has made a significant equity investment to accelerate the growth of the combined company.
Netsurion and EventTracker will continue to operate as distinct brands and deliver their products and services in the same manners they have historically. Kevin Watson, CEO of Netsurion, will serve as CEO of the parent organization, and A.N. Ananth, CEO of EventTracker, will continue in his current role.
“Our two businesses complement each other in many ways,” said Watson. “As a combined firm, we are better positioned to serve our customers as the sophistication of network breaches increases. Over the past year, we have seen more network intrusions take place that require the type of security SIEM brings. Unfortunately, many small and multi-location businesses cannot afford and do not have the knowledge to manage such complex systems. Providing a managed network security service coupled with a managed SIEM product will enable us to best protect our clients from current and emerging threats.”
“Netsurion and EventTracker are strongly positioned in the managed services technology sector,” said Matthew Stone, vice president at PSG and Netsurion board member. “With a combined solutions portfolio and continued investment, they can advance their disruptive approach to cybersecurity together to seize the significant growth opportunities driven by the realities of modern cyberthreats.”
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