Security vendor PatchLink Corporation has unveiled a new corporate name, Lumension Security, following its acquisition of Securewave earlier this year.
The company said the name change is designed to match its products which deliver holistic unified protection and control over enterprise endpoints.
While Securewave didn't have a presence in Australia, the combined company has more than 5000 enterprise customers and about 14 million end-points deployed across the United States, Europe, Asia and Australia.
PatchLink will gain 17,000 global customers along with existing local clients which includes Perpetual Funds Management, the Australian Defence Force Academy, and Kingston City Council.
The merger is Patchlink's second acquisition this year, following the purchase of the STAT Guardian vulnerability management suite from security vendor Harris.
There has been plenty of activity in this particular market with SonicWall acquiring SSL vendor Aventail for $US25 million earlier this year.
PatchLink has been around since 1991, and even SecureWave -- the most notable tech company to come out of Luxembourg -- was founded as long ago as 1996. The newly combined company will have 230 employees, which is large for a private company.
Chairman and CEO of Lumension Security, Patrick Clawson, said there is a considerable amount of consolidation in the market place as security vendors add capabilities to complete their existing portfolios.
"Our new corporate strategy meets the increasing customer demand for tightly integrated solutions that are cost effective, easy to use and manage," he said.
"The market is crowded with stand-alone point solutions. Lumension Security is shifting the paradigm from a reactive to a proactive approach by unifying best-of-breed, enterprise-class solutions that enforce and maintain security policies, reduce overall complexity and costs, and ultimately accelerate business results."
According to a May 2007 report published by the National Vulnerability Database, 24 new vulnerabilities are identified every day - more than half of which are considered dangerous enough to warrant immediate remediation by IT departments.
Gartner estimates that by the end of 2007, 75 percent of enterprises will be infected with financially motivated, targeted malware that evaded traditional perimeter and host defenses.
At the same time, the 2006 CSI/FBI Computer Crime and Security Survey, found that 75 percent of Fortune 1000 companies fell victim to data leakage.
Clawson said relying on numerous traditional point solutions forces companies to manage in silos, producing inconsistent security approaches, fragmented policy enforcement and reporting and ultimately, a more complex network to manage and secure.
"Constantly reacting to perceived threats creates a chaotic situation for IT managers, forcing them to frantically issue ad hoc emergency patches, update signatures, and review security policies," he said.