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Vendor lineage

Trustwave

Thirty years of managed security from Chicago, owned in turn by a Singapore carrier, a Chertoff fund and a spun-out AT&T business.

Trustwave was founded in Chicago in 1995 and grew into a managed security services provider: managed detection and response, managed security services, database and email security, and for many years the payment card compliance business that made it the assessor behind a large share of the world's PCI validations. Its research, testing and incident response arm, SpiderLabs, has its own record on this site.

The ownership chain is the card. On 7 April 2015 Singtel, the Singapore carrier, announced the acquisition of Trustwave for $810 million, completed later that year, and ran it as its cyber security arm; in October 2021 Trustwave sold its PCI compliance business to Sysnet for $80 million; in January 2024 Singtel sold Trustwave to the MC² Security Fund, an affiliate of The Chertoff Group, for $205 million; and on 19 August 2025 LevelBlue completed its acquisition, terms undisclosed, calling the result the world's largest pure-play managed security services provider.

By October 2026 the company's own about page answers with a redirect to LevelBlue's, which is why the record marks the name as ended in 2025 while the people, the operations centres and SpiderLabs continue under the new owner.

Why it belongs in a networking record: Trustwave is the clearest case on this timeline of a security services company changing hands by region and by thesis, a carrier that wanted a security arm, a fund that wanted a platform, a services company that wanted scale, with the same Chicago operation underneath all three.

Acquisitions

  1. 2015 Trustwave acquired BY Singtel $810 million

    Announced 7 April 2015; Singtel's cyber security arm for the next nine years.

    Wikipedia: Trustwave Holdings (read 2026-10-06).

  2. 2024 Trustwave acquired BY the MC² Security Fund (The Chertoff Group) $205 million

    Singtel's sale, January 2024.

    Wikipedia: Trustwave Holdings (read 2026-10-06).

  3. 2025 Trustwave acquired BY LevelBlue

    Completed 19 August 2025, terms not disclosed.

    Part of LevelBlue; SpiderLabs as LevelBlue SpiderLabs.

    LevelBlue, Dallas, 19 August 2025 (read 2026-10-06).

Trustwave Holdings (Wikipedia) ↗
From the company

This company no longer trades under this name. Now part of LevelBlue (Trustwave acquired 19 August 2025; SpiderLabs continues as LevelBlue SpiderLabs).

Sources