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Cyxtera to Spin Out Cybersecurity Business to Form AppGate; Manuel Medina Quoted

Jeff Brody
Manuel Medina

Coral Gables, Fla.-based data center provider Cyxtera Technologies has announced plans to separate its cybersecurity business to form a standalone company that will operate as AppGate.

Cyxtera said Wednesday it expects the spinout to conclude in the first quarter of 2020 and has appointed Mike Aiello, a 20-year entrepreneur in the cybersecurity space, to serve as CEO of AppGate.

Aiello previously worked at Google, where he led product management for the company’s Google Cloud Platform Security. He also served as chief information security officer at Goldman Sachs’ consumer and commercial bank.

AppGate will leverage Cyxtera’s global footprint to broaden as-a-service capabilities and speed up deployments and will offer a set of cloud-ready analytics and security products and services, including the AppGate SDP software-defined perimeter platform and Total Fraud Protection offerings.

“The new company will intensify our efforts in this arena, bringing a dedicated focus to helping protect enterprise and government information systems from today’s emerging threats, and providing the ability to act with precision and agility in a rapidly changing market,” said Cyxtera CEO Manuel Medina.

Similar to Cyxtera, private equity firms Medina Capital and BC Partners will have controlling interest in AppGate.

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