Private Equity-backed Entrust Defends Governments and Business 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.
About Private Equity at Work
Private Equity at Work is a new initiative by the Private Equity Growth Capital Council aimed at educating media, policy makers and the public about the private equity industry and its positive contributions to the American economy. The campaign is anchored by a new website and resource center, www.PrivateEquityAtWork.com, and features educational content, industry data and an in-depth look at specific private equity investments that are driving growth and creating jobs.
A trusted provider of identity-based security solutions, Entrust secures governments, enterprises and financial institutions in more than 5,000 organizations spanning 85 countries. Entrust’s award-winning software authentication platforms manage today’s most secure identity credentials, addressing customer pain points for cloud and mobile security, physical and logical access, citizen eID initiatives, certificate management and SSL. For more information about Entrust products and services, call 888-690-2424, email firstname.lastname@example.org or visit www.entrust.com.
About the Private Equity Growth Capital Council
The Private Equity Growth Capital Council (PEGCC) is an advocacy, communications and research organization and resource center established to develop, analyze and distribute information about the private equity and growth capital investment industry and its contributions to the national and global economy. Established in 2007 and formerly known as the Private Equity Council, the PEGCC is based in Washington, D.C. The members of the PEGCC are 36 of the world’s leading private equity and growth capital firms united by their commitment to growing and strengthening the businesses in which they invest. More information about the PEGCC can be found at www.pegcc.org.