Sunstone Partners Acquires Three Award-Winning Managed Cybersecurity Services Firms to Create Avertium . Cybersecurity Veteran Jeff Schmidt Joins as CEO
May 30, 2019
SC Pressroom Cybersecurity's leading news distribution network
SAN MATEO, Calif., -- Sunstone Partners, a leading growth equity firm, today announced it has completed the acquisitions of Terra Verde Security LLC, TruShield Security Solutions and Sword & Shield Enterprise Security and formed one combined company: Avertium – the new cyber element.
Avertium will focus its comprehensive expertise on supporting mid-to-large enterprises, making it one of the largest managed cybersecurity services companies focused on this market.
Avertium will be led by Jeff Schmidt, a security industry veteran, who has previously held executive leadership roles at a variety of successful technology and security companies, including International Network Services, All Covered, BT Counterpane, SQS, and Authomate.
While at BT, Schmidt also led the integration and assimilation of BT's global security acquisitions and developed its cloud-based portfolio that supported market leading companies worldwide. Schmidt along with the executive team of each company will form Avertium's go-forward management team.
"People, process and policies supported by technology and automation are the five basic elements for a pragmatic and disciplined approach to good cybersecurity hygiene," said Schmidt. "We will build on the success and pedigree of the distinguished organizations we have brought together."
Schmidt explained the leadership team from the three companies will collaborate to deliver unparalleled cybersecurity services for Avertium's customers.
"Avertium is the new cyber element, and we are uniquely positioned with our team to deliver superior business value leveraging a next-generation, cybersecurity-as-a-service framework," said Schmidt.
Avertium's combined base of more than 1,200 active customers who receive advisory, managed, and training services across mid- to large-sized businesses will now have access to more than 150 highly certified security subject matter experts.
Managed services customers will benefit from two cybersecurity operations centers providing 24 x 7 monitoring and support with complete fail-over and redundancy to ensure uninterrupted coverage.
Avertium's core portfolio offerings include managed cybersecurity services, compliance assessments and other security advisory and training services.
Sunstone's investment will facilitate rapid growth, expansion of security operations, and meaningful customer success initiatives, accelerating Avertium's mission to make your world a safer place.
"We see tremendous opportunity for Avertium to be the market leader in what is today a highly fragmented managed cybersecurity services space," said Mike Biggee, co-founder and managing director of Sunstone Partners. "And when you combine Jeff's extensive cybersecurity experience and his track record of innovation and scaling organizations with the skilled capabilities we now possess from the three acquired companies, Avertium clearly has the edge."
Avertium is a leading provider of managed cybersecurity services and was created as a result of the acquisitions of Terra Verde Security, TruShield and Sword & Shield Enterprise Security by leading growth equity firm Sunstone Partners. With more than 150 employees and growing, and security operations centers in Arizona and Tennessee, the company serves more than 1,200 customers in the retail, healthcare, hospitality, financial services, manufacturing and public sectors. For more information, visit www.avertium.com.
Sunstone Partners is a growth equity firm focused on majority and minority investments in technology-enabled services and software businesses. The firm seeks to partner with exceptional management teams, often as their first institutional capital partner, to help accelerate organic growth and fund acquisitions. The firm was founded in 2015 and is currently investing out of Sunstone Partners I, a $310 million fund. For more information, visit www.sunstonepartners.com.
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