TORONTO – Telus announced today it has purchased Assurent Secure Technologies for an undisclosed purchase price.
Assurent is a Toronto-based provider of information technology security services and products.
Assurent’s 55 employees will become a part of Telus Business Resiliency Services, a part of the Telus Business Solutions business unit. This acquisition is consistent with Telus’ approach to make "tuck-under" acquisitions which augment capabilities related to the strategic growth areas of data, wireless and IP, says today’s press release.
"Information security is an increasingly critical issue for all businesses," said Joe Natale, president, Telus Business Solutions. "Security threats continue to proliferate at an ever-increasing pace and we will leverage Assurent’s industry-leading expertise and reputation to enhance our capabilities. "
Assurent is a specialized information security products and services company rooted in the Canadian and international IT security industries. The company’s core business includes security software, vulnerability research, and related engineering and consulting services.
Growing rapidly since 2002, the company has 90 customers, including many Fortune 500 companies in Canada, the U.S., Europe and Asia, in key industries including financial services, government, retail and technology. Assurent operates a vulnerability research lab and has strong relationships with more than 20 international security technology vendors that look to the company for strategic research and services to strengthen their security solutions.
According to a composite estimate from the Yankee Group, Gartner, IDC, DataMonitor, Merrill Lynch and Goldman Sachs, the Canadian security market in Canada is estimated to be worth more than $900 million and is projected to grow upwards of 19% year-over-year, reaching $1.5 billion by 2007.
