CHICAGO, IL -- 08/27/08 --
Trustwave, the leading provider of on-demand
data security and payment card industry compliance management solutions to
businesses and organizations throughout the world, announces the
acquisition of ControlPath. ControlPath offers one of the leading
compliance software platforms for managing and automating enterprise
Governance, Risk Management and Compliance (GRC) of multiple regulatory
regimes. The deal has closed and its terms are confidential.
The integration of the ControlPath GRC technology into Trustwave's suite of
on-demand compliance
management solutions will streamline multiple compliance mandates for
enterprise customers, reducing their expenses and risk. The combined
Compliance Suite manages and automates the entire compliance lifecycle,
from risk assessment and work flow, to remediation planning and tracking
and verification control testing for all security compliance frameworks.
The Compliance Suite can be deployed by companies in the financial
services, retail, manufacturing, energy, entertainment and healthcare
industries.
A report published by IT Policy Compliance Group shows that GRC provides
more than security:
-- Organizations that spend now on security and compliance to move up the
IT GRC maturity scale experience
-- Overall higher profits
-- Lower expenses
-- Improved customer satisfaction and retention
-- Organizations at the top of the maturity scale experienced
-- 17 percent higher revenues
-- 14 percent higher profits
-- 17 percent higher customer retention levels
-- Organizations at the top of the maturity level spend 50 percent less on
regulatory compliance annually than those organizations at the bottom of
the maturity scale(1)
"ControlPath GRC has been the ideal Enterprise Risk Management framework to
manage the compliance requirements for each of our business units," says
Isabelle Theisen, chief security officer at First Advantage. "The addition
of Compliance Suite to Trustwave's already extensive technology portfolio
creates another useful tool which organizations can leverage to efficiently
and effectively reach their compliance goal."
"This solution provides the framework and knowledgebase to enable our
clients to more easily and cost-effectively manage compliance efforts
across multiple regulations," says Robert J. McCullen, chairman and CEO of
Trustwave. "By automating the compliance management process, this
technology can support even the most complex requirements and lessen the
time commitment and costs related to compliance management."
"As a market leader in GRC technology, we are excited to offer this
comprehensive solution to a broader, global audience, delivering compliance
management more effectively than currently employed enterprise practices,"
says Matt Alderman, founder of ControlPath, who will become Trustwave's
vice president of compliance management solutions. "This technology fits
well with Trustwave's compliance suite, which currently includes solutions
for a variety of regulatory mandates as the Payment Card Industry Data
Security Standard (PCI DSS), Health Insurance Portability and
Accountability Act (HIPAA) and Sarbanes-Oxley (SOX)."
About Trustwave
Trustwave is the leading provider of on-demand and subscription-based
information security and payment card industry compliance management
solutions to businesses and government entities throughout the world. For
organizations faced with today's challenging data security and compliance
environment, Trustwave provides a unique approach with comprehensive
solutions that include its flagship TrustKeeper®
compliance management software and other proprietary security solutions.
Trustwave has helped more than 30,000 organizations -- ranging from Fortune
500 businesses and large financial institutions to small and medium-sized
retailers -- manage compliance and secure their network infrastructure,
data communications and critical information assets. Trustwave is
headquartered in Chicago with offices throughout North America, South
America, Europe, Africa, China and Australia. For more information, visit
https://www.trustwave.com.
(1) "2008 Annual Report: IT Governance, Risk and Compliance -- Improving
Business Results and Mitigating Financial Risk," by Jim Hurley, IT Policy
Compliance Group (IT PCG), June 2008.
MEDIA CONTACT:
Michelle Genser
Trustwave
Email Contact
312-873-7288
