MCI nabs NetSec for $105m

Security services play

By John Leyden • Get more from this author

Posted in Financial News, 20th January 2005 21:25 GMT

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MCI is to buy managed security services firm NetSec for $105m in cash. The acquisition will enable MCI to offer advanced security services to large companies and government customers a year quicker than would otherwise be possible, it says. The transaction should close within 30 days.

NetSec offers a suite of security services including vulnerability and event management services as well as professional consultancy advice and penetration testing. It employs 150 people, including 19 in London.

MCI will combine its own network-based intelligence with NetSec's premise-based security monitoring to provide customers with a comprehensive view of their security environment across multiple systems and devices. It will also extend NetSec's Finium security services platform, which correlates security data from various sensors, to clients who want to extend their security defences. MCI said NetSec complements existing security partnerships with firms such as MessageLabs.

Glenn Hazard, NetSec chairman and chief executive officer, said: "Telcos are going from becoming networking companies selling bandwidth to network services firm selling value added services such as security and storage. MCI has the resources to finance NetSec's growth," he said. ®