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

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.

œThe 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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