Cyxtera Technologies has announced its intention to spin out its cybersecurity business into a separate company. 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 the software-defined perimeter solution, AppGate SDP, the Total Fraud Protection suite of risk-based authentication and digital threat protection capabilities, and a range of 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. These products currently 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.
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 and AppGate will work closely together as strategic partners. Cyxtera will integrate AppGate products into its CXD on-demand marketplace, providing customers with a cyber-resilient data center platform.
