AccessData to split into two companies
AccessData marque to carry on alongside newly created Resolution1 Security
Cyber-security firm AccessData today announced that it will split its business into two independent companies - one called AccessData and another called Resolution1 Security.
The new structure is intended to allow each company to follow its own unique business model, and to be more agile within their respective markets, AccessData said. The split will go into effect on January 1, 2015.
AccessData will continue on with its business in forensics, e-discovery and legal review solutions for enterprises, law firms, government agencies and law enforcement organisations. The company will continue to develop its already-established solutions FTK, MPE+ and Summation, it said.
Tim Leehealey, AccessData's current CEO and Chairman, will oversee the new AccessData's strategic vision and business growth. He will also serve as Chairman of the Board for both AccessData and Resolution1 Security.
"AccessData has highly successful cybersecurity and investigations businesses," he said.
"The rapidly changing security landscape accelerated our plans to separate the two companies and aggressively pursue opportunities to extend our industry leadership. The split enables each company with the focus, flexibility, independence, and resources to innovate and solve enterprises' most vexing challenges."
Meanwhile, AccessData said that the creation of Resolution1 Security comes in response to the growing number of advanced cyber-attacks and high-profile breaches. Seven years ago, AccessData sought to address these problems with its automated and integrated incident response solution, the Resolution1 Platform. And thanks to the traction that the platform has gained, it will be spun out into its own company focused on incident response.
"The cyber-security market has reached a critical point and Resolution1 Security is at the forefront of defining the future of incident response, namely continuous, automated, incident resolution (CAIR)," said Brian Karney, who will be CEO of Resolution1 Security.
"Our business has grown as has the interest and adoption by major companies and enterprises. The split comes at an optimal time for our company to realise its full potential and advance incident resolution for unsurpassed response speed, certainty and incident intelligence."
AccessData said that the split would not impact the current accounts of customers and partners.