Trustwave Holdings


Trustwave Holdings is an information security company. The company's international headquarters is located in downtown Chicago, and regional offices are located in London, São Paulo, and Sydney. The company also operates Security Operations Centers in Chicago, Denver, Manila, Minneapolis, Singapore, Sydney, Tokyo, Warsaw, and Waterloo, Ontario. Trustwave is currently the only company that is an authorized PCI Forensic Investigator in all geographic regions. Trustwave is a standalone business unit and cyber security brand of Singaporean telecommunications company Singtel Group Enterprise.

History

In April 2011, Trustwave Holdings filed for its IPO though the company is now a standalone subsidiary of Singtel. Trustwave's website says the company has more than 1,600 employees.
On April 8, 2015, Singapore Telecommunications Ltd announced it had entered into a definitive agreement to acquire Trustwave Holdings, Inc. for a fee of $810 million—Singtel with a 98% stake in the company leaving 2% with Trustwave's CEO and President. According to media reports and Singtel filings on the Singapore Exchange, the enterprise value of Trustwave at the time of the deal was $850 million.

Products and technologies

Managed Security Services is a service that involves remotely managing third-party products such as Network Access Control, SIEM, and United Threat Management for companies who wish to outsource their security needs. According to the Forrester Wave: Managed Security Services: North America, Q4 2014, Trustwave is a market leader in managed security services.
TrustKeeper is a cloud-based platform that ties together Trustwave's various managed security services. Through TrustKeeper businesses can access a variety of Trustwave "apps" ranging from enterprise-class managed security services to PCI compliance automation tools designed to help credit card merchants protect themselves against unauthorized access.
Managed Security Testing is an application within TrustKeeper that provides an interactive way to view and track penetration test reports as an alternative to conventional PDF based reports. Earlier versions were called Trustwave PenTest Manager, and it won the 2012 SC Magazine Europe Innovation award.
Secure Web Gateway : an appliance-based secure Web gateway that uses real-time code analysis technology, URL filtering and antivirus scanning to prevent malware and Web-based threats.
In May 2011, the M86 Secure Web Gateway was designated as Visionary in the 2011 Gartner Magic Quadrant Report for Secure Web Gateways.
Secure Email Gateway : an email security solution, available as software or through a cloud-based service, that protects against malware, spam and data leakage. It also provides reporting, analyzes inbound and outbound content and assists with policy control. In April 2010, the M86 MailMarshal SMTP product was designated Visionary in the 2010 Gartner Magic Quadrant Report for Secure Email Gateways.
Associated Technologies:
SpiderLabs is the advanced security services and research team at Trustwave that was developed by security researcher, Nicholas J. Percoco. The team specializes in forensic investigations, penetration testing, education services, and security research that is used to update Trustwave's products and services with threat intelligence. SpiderLabs also authors the Trustwave Global Security Report, an annual report detailing the latest security trends and risk areas. SpiderLabs also actively develops the open source web application firewall, ModSecurity, and a supplementary commercial rule set available for purchase.
Trustwave SecureBrowsing is a free security plug-in for web browsers that checks links in real time using the Secure Web Gateway. Each link on a web page is given a rating of green or red.

Significant discoveries

In February 2014, Trustwave SVP Phillip. J. Smith offered expert testimony related to data breaches and malware as part of a Congressional hearing for The House Committee on Energy and Commerce. In his prepared testimony, he presented observations based on the company's experience investigating thousands of data breaches, ongoing malware and security research and other forms of threat intelligence.

Unrestricted sub-CA incident

Trustwave operates an X.509 certificate authority which is used as the top level of trust by many web browsers, operating systems, and other applications. In 2011, Trustwave sold a certificate for a subordinate CA which allowed a customer to present SSL certificates identifying as arbitrary entities, in a similar mechanism to a "Man in the Middle Attack". This type of action is similar to the practice of running an SSL proxy on a corporate network, though in this case a public subordinate CA was used instead of an internal corporate-generated domain CA, making the risk of abuse much higher.
Though Trustwave asserts that special precautions were put in place to ensure that the customer attached its device only to a particular customer-owned network on which it was acceptable for the customer to impersonate other entities and to intercept traffic, this cannot be independently verified as Trustwave is unable to disclose the customer due to a Non-Disclosure Agreement.
As a result, there was some brief discussion as to whether it was an egregious enough action to have Trustwave's root CA removed from the Mozilla Firefox browser. However, no action was taken.

Allegations against Trustwave

In March 2014, Trustwave was named in a lawsuit filed by Trustmark National Bank and Green Bank N.A. The lawsuit alleges that Trustwave failed to provide the promised level of security to Target, and for failing to meet industry security standards. In April 2014, a notice of dismissal was filed by both plaintiffs, effectively withdrawing their earlier allegations. Trustwave Chairman, CEO and President Robert J. McCullen also stated in a letter that "Contrary to the misstated allegations in the plaintiffs' complaints, Target did not outsource its data security or IT obligations to Trustwave. Trustwave did not monitor Target's network, nor did Trustwave process cardholder data for Target.".

Recognition

In 2018, Gartner named Trustwave a Leader in its Gartner MQ for Managed Security Service Providers, Worldwide. It was the first vendor to move into the leader's quadrant since inception of the global report. In 2016, IDC named Trustwave a Leader in the IDC MarketScape for Emerging Managed Security Services Providers based on industry analysis and buyer perception. In the 2015 "Gartner Magic Quadrant for Managed Security Services, Worldwide," a report that evaluated 14 different global managed security service providers, Trustwave was named an industry challenger “due to the access it gained to greater resources and new markets resulting from the acquisition by Singtel, and its increasing investments in competing for enterprise customers.” In 2014, industry analyst firm Forrester Research named Trustwave one of the leaders in the managed security services market.