Lumension Acquires SecurityworksLumension Acquires Securityworks
Buy strengthens Lumension's position in operational endpoint security by extending end-to-end risk and compliance management capabilities
April 21, 2009
Scottsdale, Ariz. -- April 20, 2009 -- Lumension, a global leader in security management, announced today that it has signed a definitive agreement to acquire the assets of Securityworks, Inc. ("Securityworks"), a Dallas, Texas-based provider of compliance and risk management solutions for the IT Governance, Risk and Compliance (GRC) market. Terms of the transaction were not disclosed.
The acquisition strengthens Lumension's leadership position in operational endpoint security by extending end-to-end compliance and risk management capabilities to its existing solution portfolio. By integrating the IT compliance and risk management capabilities of Securityworks with Lumension's operational endpoint security solution suite, Lumension is positioned to deliver a total, integrated solution suite that enables enterprises to immediately identify their business risks within the context of compliance regulations such as PCI, HIPAA, and Sarbanes Oxley, and automatically assess this risk and apply targeted risk remediation while automating compliance audit and reporting. Lumension is now in a position to offer security solutions to customers that will enhance automation, reduce the cost of compliance by 30-50 percent or more, improve availability of IT assets, and optimize risk management throughout the IT network.
Companies today face a unique set of business challenges " reduced IT resources, growth of compliance regulations, increasing multi-faceted threats and a lack of enterprise-wide risk visibility and verification. For example, according to a 2008 Enterprise Management Associates, Inc. report, 21 percent of companies that have a strategy in place to manage sensitive data do not believe it is effective. In response to these challenges, companies are increasing their investments in IT GRC-based technology. In fact, according to Forrester, the IT GRC market is projected to grow to $1.3 billion by 2011.
"The average organization's risk environment is becoming increasingly complex as the threat from insiders continues to intensify. Growth and increasing sophistication in targeted malware and the ever-increasing number of compliance regulations with which companies must comply adds a daunting layer of complexity and increased costs to today's business environment," said Pat Clawson, chairman and CEO, Lumension. "What's more challenging is organizations are implementing several siloed technologies to address these challenges, resulting in poor visibility across the enterprise risk environment and a disjointed, unmanageable approach to risk and compliance. Through this acquisition of Securityworks' assets, Lumension will be able to deliver a unified solution suite that will enable companies to safeguard their valuable assets while managing their IT risk environment in a simple and cost-effective manner that our competitors cannot match.
"In combining these efforts under one holistic solution, customers gain peace of mind knowing they are able to implement a single solution that can address their compliance and reporting requirements, risk management and all endpoint security needs," Clawson continued.
The risk and compliance management capabilities of Securityworks will empower Lumension's customers to automatically identify key business interests and prioritize those interests against IT security-related risk within the context of standardized compliance regulations and controls. The combined suite provides enterprises with a more integrated approach to security and risk management which includes risk identification, prioritization and management, automated risk assessment, remediation, compliance management and reporting capabilities. As a result, organizations will have enhanced visibility and prioritization of potential risk exposure across their overall IT environment, enabling a much more focused deployment of IT resources in addressing the greatest areas of potential risk first.
"Securityworks is known for bringing its customers a complete and cost-effective compliance and risk management offering through automation that allows users to tap predefined compliance and control frameworks in order to quickly identify and prioritize IT risks to business interests," said Bryan Fish, president of Securityworks. "By integrating these capabilities with Lumension's market-leading solutions, customers can achieve greater visibility across their IT risk environment while reducing the cost of compliance through better automation of risk assessment and remediation processes. This is a solid step forward for organizations and one that we are proud to be part of."
Lumension's Risk and Compliance Management Solution will allow enterprises to more efficiently and effectively manage the end-to-end compliance and risk management process:
Identify Business Interests " Identify and prioritize risk to business interests across all types of IT resources within the framework of predefined compliance and control regulations, best practices and automated workflows.
Risk Assessment " Automatically assess IT network risks across vulnerabilities, configurations, applications and devices.
Risk Remediation " Apply and confirm targeted remediation efforts across vulnerabilities, configurations, applications and devices while also establishing security policies across applications and devices, roles and groups.
Compliance Management " Measure and report on compliance across industry, governmental regulations and control best practices, enabling the organization to assess once and comply with many.
The acquisition of Securityworks furthers Lumension's commitment to providing complete endpoint security solutions for key vertical markets, including healthcare, public sector, financial services and retail. Furthermore, this acquisition opens up a new opportunity for Lumension to expand its reach into the IT GRC market.
Managing Spend on IT Security Spending and Audit for Better Results, IT Policy Compliance, February 2009 For more information, please visit Securityworks-Lumension.
Lumension will also be hosting a live webcast Monday, April 20, 2009 at 10:00 a.m. PDT. To register for this webcast, please visit: Lumension Acquisition Webcast.
About Lumension Lumension Security, Inc., a global leader in operational endpoint security, develops, integrates and markets security software solutions that help businesses protect their vital information and manage critical risk across network and endpoint assets. Lumension enables more than 5,100 customers worldwide to achieve optimal security and IT success by delivering a proven and award-winning solution portfolio that includes Vulnerability Management, Endpoint Protection, Data Protection, and Reporting and Compliance offerings. Lumension is known for providing world-class customer support and services 24x7, 365 days a year. Headquartered in Scottsdale, Arizona, Lumension has operations worldwide, including Virginia, Utah, Florida, Luxembourg, the United Kingdom, Spain, Australia, India, Hong Kong and Singapore. Lumension: IT Secured. Success Optimized'. More information can be found at www.lumension.com.
About Securityworks Securityworks, Inc. is a Dallas, Texas-based IT-GRC software solutions company delivering automated compliance and risk management capabilities to companies in the retail, healthcare, financial and manufacturing industries.
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