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Posted by Brandon Dunlap
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Tuesday, 02 September 2008 |
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Trustwave, a provider of on-demand data security and compliance management solutions recently announced the acquisition of ControlPath (the terms of which are confidential and have not been disclosed). ControlPath, an enterprise Governance, Risk Management and Compliance (GRC) product company, finally has what we all hope is a loving and stable home environment where it can flourish. What we all know today as ControlPath, has had a turbulent and difficult time since it was first concieved as "consultingware" by Alderrman Consulting, LLC back when the world was being roiled with SOX audits for the first time and the GRC market was just glimmer in Gartner's eye. Colorado-based VAR, Accuvant picked up Alderman Consulting and their IP to form the backbone of their compliance practice back in 2004, keeping founder Matthew Alderman on to lead that charge under Accuvant founder and VP, Bill Strub. What we learned shortly after was that a VAR may not be the right home environment to raise a young application. Our sources tell of a difficult time ensuring that the fledgling product was properly nutured and allowed to grow. Specifcially, a lack of resources (funding and attention) as well as clear leadership around the IP, along with a sales force unaccustomed to such solutions made it difficult for this youth to truely blossom. Foster care being a transition period, Accuvant spun the venture out in 2006 to become ControlPath. It was really a sink or swim time for ControlPatch, thankfully, the arrangement kept Accuvant as a partner/reseller, giving them time to find their footing. Alderman stayed on in the new company as CTO, a role he held up until the Trustawave acquisition. Alderman continues to shepard his baby into adolescence as VP of Compliance Management Solutions inside of Trustwave. It will be curious times as Trustwave begins their planned integration of the ControlPath GRC technology into their existing suite of SaaS compliance management solutions. How will they integrate their content model, a formidable part of the original offering? What will the move to "on-demand" do the ability to integrate with on premise solutions that feed the data hungry compliance monster? According to Alderman, "This technology fits well with Trustwave's compliance suite, which currently includes solutions for a variety of regulatory mandates as the Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA) and Sarbanes-Oxley (SOX)." Will they be able to scale out their content offerings to meet increasing demands in the still evolving GRC space or will they fall behind like some many of the other content rich GRC players in the market? Rest assured, we'll be keeping a sharp eye on Mr. Alderman and baby as they get acquainted with their new adopted parents. Recommend this article...  Comment |  Add as favorites (0) |  Link to this | Views: 186 | Read more...
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Last Updated ( Tuesday, 02 September 2008 )
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Posted by Brandon Dunlap
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Thursday, 21 August 2008 |
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Firewall hardware newbie Palo Alto Networks, based (oddly enough) in Sunnyvale, CA announced on Tuesday that it has raised $27M in a Series C round of funding. While the round was led by Lehman Brothers Venture Partners, it also included prior investors Globespan Capital Partners, Greylock Partners and Sequoia Capital. The company secured a B round of $18 million in June 2007, and coupled with this latest brings the company's total raised to around $53M. This news comes quickly on the heels of Palo Alto Networks announcing they had hired Lane Bess as CEO last month. Bess, a TrendMicro alum, replaces Dave Stevens, who left the company. In a rare Valley phenomenon, founders Nir Zuk, Yuming Mao and Rajiv Batra who started the business back 2005 remain with the company. Zuk, who worked previously at NetScreen Technologies before their acquisition by Juniper Networks in 2005, is their Chief Technology Officer. Batra, also of Juniper but through the Peribit purchase in 2005, is VP of Engineering, and Mao, Juniper via NetScreen, serves as Chief Architect. The board appointments that fell out of this latest round read like a redneck family tree: Asheem Chandna, most recently off a 6 ½ year stint at Check Point Software Technologies as VP of Business Development and Product Management represents Greylock Partners (and is also a board member at Imperva). Chandna also spent some quality time at SynOptics/Bay Networks and AT&T Bell Laboratories in marketing and product positions. Jim Goetz represents Sequoia Capital, but also was at Bay Networks as their VP of Network Management, and before that he rolled through AT&T Bell Labs product and marketing departments. Imperva CEO, Shlomo Kramer, co-founder of Check Point back in 1993, also has a seat at the big boys table. Old Schooler, Bill Lanfri, from the early management team of SynOptics sits on alongside new CEO Bess (who also did some time in AT&T’s marketing department) and CTO Zuk (who also lists Check Point Principal Engineer on his resume). Venky Ganesan of Globespan Capital Partners seems to be the odd man out with few if any direct ties to the alumni departments of the other board members.
Between the board seats and the founders, this goes to show you that it pays to properly research the smaller firms you do business with. The management food chain is one incestuous bunch and often can act as an early indicator as to who makes the dance card when it comes time for the big M&A dance.Recommend this article... Comments (2) | Add as favorites (0) | Link to this | Views: 286 | Read more... |
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Last Updated ( Thursday, 21 August 2008 )
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Posted by Brandon Dunlap
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Wednesday, 13 August 2008 |
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Deloitte & Touche and General Motors took a $303 million hit in a class-action securities lawsuit against them. The lead plaintiffs, a pair of funds managed by Germany’s DekaBank, alleged that between 2002 and 2006 GM filed misleading financial reports. Deloitte was GM's auditor during this period, and was subsequently named in the suit. Deloitte will pay $26 million in cash, while GM will pay $277 million, provided that the terms of the settlement meet with court approval. This settlement comes almost exactly one year after Deloitte had to cough up $167.5 million in Aldelphia case. Good thing they are posting record revenues, it looks like they need it. Recommend this article... Comment | Add as favorites (0) | Link to this | Views: 207 | Read more... |
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Last Updated ( Wednesday, 13 August 2008 )
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