CHICAGO – September 11, 2015 – First Analysis portfolio company Trustwave®, a provider of managed security services, recently completed its sale to Singapore Telecommunications Limited (Singtel), one of Asia's leading communications companies. The acquisition bolsters Trustwave's ability to expand its leadership in managed security services globally. Trustwave, which remains headquartered in Chicago, is now a standalone business unit within Singtel Group Enterprise and will continue to operate under the Trustwave brand.

Trustwave helps businesses fight cybercrime, protect data, and reduce security risk. With cloud and managed security services, integrated technologies, and a team of security experts, ethical hackers and researchers, Trustwave enables businesses to transform the way they manage their information security and compliance programs. More than three million businesses are enrolled in the Trustwave TrustKeeper® cloud platform, through which Trustwave delivers automated, efficient, and cost-effective threat, vulnerability, and compliance management. Trustwave serves customers in 96 countries.

First Analysis Managing Director Howard Smith commented, "We are pleased with this transaction and are glad to have been part of building this premiere security services provider. It's gratifying to see another success in our long history of investing in information security. That experience was instrumental in helping us identify and contribute to the development of this pioneering company."

First Analysis was an investor in one of the earliest and most successful network security companies, RSA Security (now a part of EMC Corp.), via its investment in Security Dynamics, which acquired RSA in 1996. Other First Analysis network security sector investments are now parts of Intel and Avaya.

About First Analysis

First Analysis has one of the longest records (30 years) in private capital investing and has invested more than $700 million across 12 funds in three fund families. First Analysis excels at uncovering and leveraging the best opportunities in emerging high-growth segments in health care and technology for the benefit of the investors and growth companies we advise and serve. Integrated public and private company research underpins our success, yielding a deep, comprehensive understanding of each segment's near-term and long-term potential. First Analysis helps established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Its flexible approach targets investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective to the table.

For more information, please contact:

Howard Smith
hsmith@firstanalysis.com
312-258-7117

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Sale of First Analysis portfolio company Trustwave, September 2015