Southfield's ANX Buys TruArx, Adds IT Compliance Tech
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The Southfield network and security services provider ANXeBusiness Corp. Thursday announced the acquisition of TruArx Inc., a provider of IT governance, risk and compliance products and services.
ANX said the acquisition reflects its continued commitment to providing comprehensive managed security systems.
The addition of TruArx is ANX’s third acquisition in the security market this year and the seventh in the past four years, strengthening ANX’s position in the global, vertical, and horizontal security and compliance markets.
Founded in 2001 and headquartered in Farmington Hills, TruArx provides more than 14,000 clients with cost-effective, easy-to-implement IT governance, risk and compliance products and services. The TruArx software-as-a-service platform supports close to 500 regulations and standards. Clients can quickly implement and continuously review security to improve protection and reduce the cost of compliance and risk. By implementing these solutions, clients can optimize business performance and experience a higher return on security program investments.
“The relationships between IT security, B-to-B collaboration and governance, risk and compliance requirements become more complicated and intertwined daily,” said Rich Stanbaugh, president and CEO of ANXeBusiness Corp. “This acquisition is a strategic move on ANX’s part to deliver a fully integrated, security and compliance monitoring platform that will allow our joint customers to consolidate their compliance and risk management activities. We are very excited about the TruArx products and about the depth of talent we are adding to the ANX team.”
In October 2009, ANX and TruArx successfully launched OfficeScreen Complete with TruPCI. This product provided a fully managed security system coupled with PCI compliance tools to help retail merchants become and remain PCI compliant — meeting the payment processing security standards of the credit card industry.
Stanbaugh said almost all of TruArx’s 25 to 30 employees will be kept, bringing ANX’s total employment to roughly 140.
“A growing number of organizations are struggling to comply and keep up with changing regulatory requirements, while also attempting to minimize exposure to other business risks,” said Robert Capinjola, president and CEO of TruArx. “We are excited to join such a dynamic and customer-centric company like ANX and look forward to leveraging ANX’s broad range of services to enhance the offerings to our existing customers.”
This deal follows the acquisition of S2S Communications and ETSec earlier this year and two years after ANX acquired the assets of CSCI Inc., including the VPN portion of CSCI’s OfficeScreen business and the VPN division of Positive Networks Inc. Additionally, ANX completed the purchases of Management Information Systems Group in December 2006 and Virtual Services, Inc. in July 2007.
ANX also has offices in Research Triangle Park, N.C., New Jersey, and San Diego, Calif. ANX is focused on providing network and information security systems, unified threat protection technology, and managed services that enable secure content delivery within and between enterprises.
ANX is owned by One Equity Partners, www.oneequity.com, which manages investments and commitments for JP Morgan Chase & Co. in private equity transactions.
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