AT&T announces an agreement to create a standalone managed cybersecurity services business and a capital investment in that business from WillJam Ventures, a Chicago-based investor with deep cybersecurity industry and leadership experience. At close, the new cybersecurity joint venture will hold select security software solutions, associated managed security operations and security consulting resources. AT&T will retain an ownership stake and board representation in the new entity.
This arrangement will enable AT&T to continue offering Managed Security Services, while simultaneously focusing on enhanced network-based security capabilities.
Security starts in the network. AT&T is building more security capabilities into its core network and edges. These security services will be ‘built-in’ to our connectivity products, which will create a new category of network-embedded security for small and medium sized business customers. AT&T is currently undergoing controlled introductions for these new products and will have more to share with the market soon.
By bringing together network-embedded security and global managed security service provider (MSSP) capabilities, business customers will have stronger protections and security postures end to end.
This new arrangement helps our customers stay one step ahead of evolving cyber threats. It also allows both entities to foster and accelerate innovation in the cybersecurity space for a broad range of customers around the world.
“Security has never been more important – to our customers and to AT&T. Our direct focus remains on unlocking the power of our best-in-class connectivity with embedded security features that will allow our network to intelligently protect customers end-to-end. We’re energized about this new business model and the opportunities and capabilities these network enhancements will bring to the market.”
– Rick Welday, Head of AT&T Enterprise Markets
“Today’s cybersecurity landscape is more dynamic and challenging than ever – rapidly expanding attack surfaces combined with an intensifying cybersecurity skills gap are driving businesses to adopt managed security services to safeguard their digital assets. Working together we’ll be uniquely positioned to protect organizations globally and WillJam Ventures is excited to extend our relationship with AT&T as its preferred cybersecurity provider for business customers going forward.”
– Bob McCullen, Managing Partner, WillJam Ventures LLC
AT&T expects the transaction, which is subject to regulatory reviews and customary closing conditions, to close in 1Q24. Additional terms of the transaction were not disclosed.
Reference
https://about.att.com/story/2023/standalone-managed-cybersecurity-services-business.html
