ANXeBusiness Corp. Acquires ETSec
Combined Company to Address Managed Security-as-a-Service Solutions for Government, Healthcare, Medical Supply Chain and Commercial Customers
SOUTHFIELD, Mich. (February 12, 2010) - ANXeBusiness Corp., a provider of networking and managed security services, today acquired ETSec, Inc. of Mt. Laurel, NJ, a provider of security solutions and managed security services to further bolster ANX’s powerful cloud-based security service offerings. The ETSec acquisition marks ANXeBusiness’ sixth purchase since 2006 and further strengthens the combined company’s position in the global security-as-a-service markets.
Founded in 2002, ETSec provides Fortune 1000 enterprises with patented managed and cloud security services and, along with an information security consultancy for regulatory compliance. ETSec works closely with their clients to tailor each solution with pragmatic considerations given to the current economic constraints that clients face. ETSec helps clients establish an effective barrier against near-term threats, while building a comprehensive strategy to mitigate future risks. ANX will be able to market its comprehensive line of security-as-a-service offerings to ETSec’s existing customers while offering ETSec services to existing ANX customers.
Under terms of the agreement, ANXeBusiness will be acquiring ETSec’s portfolio of patented security technologies and managed security services. ETSec’s solutions will further enhance ANXeBusiness’ centrally controlled, cloud-based network which provides rapid deployment of ANXeBusiness’ managed security services. Furthermore, ANXeBusiness will be strengthening their management team with seasoned veterans that bring a strong foundation of product development leadership and a passion for customer support. Because both companies are privately held, financial terms of the deal are not being disclosed.
“We expect the combination of skills, technology and security expertise that ETSec brings combined with ANX’s operational, security and customer service excellence to have an immediate positive impact on our combined customers.” said Rich Stanbaugh, president and CEO of ANXeBusiness. "The need for security continues to grow with companies who must protect their internal and external assets. This combination with ETSec will help our customers face their security risks with confidence."
The acquisition of ETSec’s technology deepens ANXeBusiness’ proficiency in the healthcare and medical supply chain verticals. ANXeBusiness now has enhanced capabilities for secure transmission of patient information, immediate tracking of patient data for clinical labs and physician offices, and enabling compliance with HIPAA and the Health Information Technology for Economic and Clinical Health (HITECH) Act.
“We’re delighted to be joining the team at ANXeBusiness and introducing ANX’s client base to our strong line of managed and cloud security solutions,” said Susan Lutz, founder and CEO, ETSec. “ETSec and ANX share a common vision and strategy for developing and deploying powerful managed security services and cloud security service offerings. The combination of ETSec and ANX together will allow us to grow faster and set a new tone in the managed security services industry. This deal is a positive one for our products and services, our customers and our employees.”
In 2006, ETSec created a subsidiary company, named TrustELI, which was then incorporated into ETSec. In addition, ETSec acquired MedAvant Lab Services, the leader in the delivery of clinical test results. The combination of these two efforts have culminated in a new business that offers managed security – cloud services, a capability that sets ETSec apart from other managed security services providers (MSSP).
The recently completed transaction is the second acquisition completed by ANXeBusiness this month. On February 5th, the company announced the acquisition of S2S Communications from metro Philadelphia. Previous acquisitions include: CSCI Inc., including the Virtual Private Network (VPN) portion of CSCI’s OfficeScreen business (October, 2008); the VPN division of Positive Networks, Inc. and its flagship product, PositivePRO (September, 2008); Management Information Systems Group (January, 2007); and Virtual Services, Inc. (July, 2007).
ANX has been headquartered in Southfield, Mich. for more than 10 years and is one of the area’s premier technology companies. ANXeBusiness continues to expand rapidly and has been recognized as one of the world’s largest software companies in Software Magazine’s 2009 “Software 500.” In addition, the company was also awarded the “Best of the Best Michigan Business” by Corp! Magazine and was named as a “HOT Company” for 2009 by Network Products Guide.
About ANXeBusiness Inc.
ANXeBusiness Inc. (http://www.anx.com), headquartered in Southfield, Mich., has offices in Research Triangle Park, N.C., Overland Park, KS, Philadelphia, PA, San Diego, CA and Toronto. The company offers customers a portfolio of products and services that enable secure collaboration within and between enterprises, based around a deep technical expertise, broad experience with high availability data connectivity, a passion for customer support and a proven record of supporting business needs across multiple trading partner collaboration chains. ANX is owned by One Equity Partners, which manages investments for JP Morgan Chase & Co. in private equity transactions.
About ETSec, Inc.
ETSec, Inc. is a global information security company dedicated to providing end-to-end management of an organization's enterprise security needs and is headquartered in Mt. Laurel, NJ. In addition to advanced managed security services and deep security expertise, ETSec delivers new levels of security to the extended enterprise. By combining the managed services delivery model with the concepts of SaaS, Cloud Services and ETSec's patented solutions, ETSec is a proven innovator of enterprise security with unprecedented reliability, efficiency and manageability. For more information, visit www.etsec.com.
Contact: Dan Chmielewski
Madison Alexander PR