Cyxtera Technologies Announces Spin Out of Cybersecurity Business
New company powers comprehensive secure access and anti-fraud solutions with offensive expertise
November 06, 2019
MIAMI – NOV 6, 2019 Cyxtera Technologies today announced its intention to spin out its cybersecurity business into a separate company to accelerate its efforts in the rapidly changing cybersecurity industry. The new business will operate as AppGate, Inc.
AppGate brings together a set of differentiated cloud- and hybrid-ready security and analytics products and services. These include AppGate SDP, the industry’s leading software-defined perimeter solution, the Total Fraud Protection suite of risk-based authentication and digital threat protection capabilities and a range of innovative threat management and analytics offerings including the Brainspace digital investigations platform and the company’s Immunity range of offense-oriented software and adversary simulation services. Today, these products secure more than 1,000 organizations across 40 countries.
The companies will share the same ownership structure as the existing Cyxtera business, led by private equity firms BC Partners and Medina Capital, while the spin out will allow each organization to pursue the most appropriate business strategy to leverage its respective market opportunity. Approximately 525 Cyxtera employees will transfer into the new business. The spin-out is expected to be complete in early first quarter 2020.
“Customers and partners are looking for a clear leader in the emerging Zero Trust cybersecurity landscape, and we believe the time to accelerate mind and market share is right now,” said Manuel D. Medina, Chief Executive Officer for Cyxtera. “The new company will intensify our efforts in this arena, bringing a dedicated focus to helping protect enterprise and government information systems from today’s emerging threats, and providing the ability to act with precision and agility in a rapidly changing market.”
The company also announced the appointment of Mike Aiello as Chief Executive Officer for AppGate Inc. Aiello has spent the last 20 years as a cybersecurity innovator and entrepreneur, most recently at Google where he directed product management for Google Cloud Platform Security. He was formerly Chief Information Security Officer for Goldman Sachs’s Consumer and Commercial Bank.
“Cyxtera has built the most comprehensive solutions for secure access and fraud protection. These solutions are backed by leading investigative analytics and adversary simulation capabilities. The team’s deep offensive expertise and defensive capabilities are built for today’s complex, hybrid infrastructures making things simple for our customers and complex for their adversaries,” said Aiello. “I’m delighted to join an exceptionally talented team as CEO to help enterprises and government agencies defend themselves in the world’s most hostile environments.”
Cyxtera and AppGate will work closely together as strategic partners, with AppGate leveraging the data center leader’s highly connected global footprint to accelerate deployments and expand as-a-service capabilities. Cyxtera will integrate AppGate products into the ecosystem of capabilities connected via its innovative CXD on-demand marketplace, providing customers with a cyber-resilient data center platform.
Cyxtera Technologies combines a worldwide footprint of 50+ best-in-class data centers with a portfolio of modern, cloud- and hybrid-ready security and analytics offerings—providing more than 3,500 enterprises, government agencies and service providers an integrated, secure and cyber-resilient infrastructure platform for critical applications and systems. For more information about Cyxtera visit, http://www.cyxtera.com/.