Key Takeaways:
- LevelBlue and Trustwave are merging to form the largest independent, pure-play MSSP with over $1 billion in annual revenue.
- The deal expands LevelBlue’s reach globally and into the U.S. public sector, leveraging Trustwave’s FedRAMP and StateRAMP credentials.
- The combined platform will integrate advanced MDR, incident response, threat intelligence, and AI-driven security operations.
- Former Trustwave CEO Robert McCullen now leads LevelBlue and is driving the integration.
- The transaction is expected to close by Q3 2025, pending regulatory approvals.
LevelBlue, the managed cybersecurity company spun out from AT&T last year, has signed a definitive agreement to acquire Trustwave, a long-established MDR and security services provider. The combined organization will emerge as the largest independent managed security services provider globally, with estimated annual revenue surpassing $1 billion and a client base of around 30,000.
This move significantly strengthens LevelBlue’s market position. It builds on Trustwave’s global presence, mature threat research capabilities via its SpiderLabs team, and its Fusion security operations platform. In contrast to many MSSPs that stitch together services across multiple vendors, the merged firm aims to deliver a unified platform that brings together AI-powered detection, threat intelligence, and integrated response.
As a refresher – we had an in person interview with Chief Evangelist, Theresa Lanowitz after the company’s one-year anniversary and a video interview with Rakesh Shah, VP of Product Management a few weeks ago. The common theme is LevelBlue is a major force in the MSSP market and they are nimbler than ever after their spinout from AT&T. This acquisition only reinforces their commitment to being a major player in the space.
Robert McCullen, who previously served as CEO of Trustwave from 2005 to 2015 and now leads LevelBlue, called the merger a strategic expansion. “The addition of Trustwave and its Fusion platform strengthens our MDR capabilities, expands our global go-to-market footprint and adds FedRAMP and StateRAMP authorizations—making us a compelling choice for the public sector,” McCullen said.
For LevelBlue, the acquisition expands its footprint well beyond its U.S. roots. Trustwave brings strong footholds in EMEA and APAC markets, including Australia, Japan, and the UK. Trustwave’s government-grade compliance authorizations give LevelBlue a competitive edge in federal, state, and local government contracting—an increasingly important channel for cybersecurity growth.
Trustwave’s SpiderLabs team, long known for deep vulnerability research and incident response expertise, also joins LevelBlue. The company plans to integrate SpiderLabs with its own threat intelligence and IR teams—building a consolidated unit spanning LevelBlue, Trustwave, and the former Aon Stroz Friedberg IR group.
“By joining LevelBlue, we are amplifying our vision,” said Trustwave CEO Eric Harmon. “Together, we’ll offer broader and deeper managed security and response services to help clients stay ahead of evolving threats.”
The deal will also combine the companies’ extensive partner networks, creating one of the most comprehensive cybersecurity partner ecosystems worldwide. According to LevelBlue, Trustwave’s channel strength in sectors like finance, healthcare, and government complements its own MSSP alliances and technology partnerships.
The merger reflects an ongoing consolidation trend across the cybersecurity sector. As organizations face alert fatigue, compliance pressures, and fragmented toolsets, many are seeking fewer, more capable partners. This transaction appears aimed at meeting that demand with end-to-end services from a single, scalable platform.
The companies will continue to operate separately until the transaction is finalized, which is expected in the second half of 2025 pending regulatory approval. Leadership emphasized that customers will see expanded services and deeper integration post-close, but no immediate disruption to existing contracts or engagements.
With this move, LevelBlue is positioning itself as a global contender in cybersecurity, moving from a telecom-adjacent business to a focused, full-spectrum security provider. Its ability to execute the integration—technologically and culturally—will likely determine whether this merger becomes a model for modern MSSPs or another complicated roll-up.
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Aside from his role as CEO of TMC and chairman of ITEXPO #TECHSUPERSHOW Feb 10-12, 2026, Rich Tehrani is CEO of RT Advisors and a Registered Representative (investment banker) with and offering securities through Four Points Capital Partners LLC (Four Points) (Member FINRA/SIPC). He handles capital/debt raises as well as M&A. RT Advisors is not owned by Four Points.
The above is not an endorsement or recommendation to buy/sell any security or sector mentioned. No companies mentioned above are current or past clients of RT Advisors.
The views and opinions expressed above are those of the participants. While believed to be reliable, the information has not been independently verified for accuracy. Any broad, general statements made herein are provided for context only and should not be construed as exhaustive or universally applicable.
Portions of this article may have been developed with the assistance of artificial intelligence, which may have contributed to ideation, content generation, factual review, or editing
