Tripwire (company)

Tripwire, Inc.
Private
Founded 1997
Headquarters Portland, Oregon
One Main Place[1]
Key people
 Jim Johnson,[2] President & CEO
Products
  • Tripwire Enterprise
  • Tripwire Log Center
  • Tripwire IP360
  • Tripwire for Servers
Revenue US$86.2 million (2010)[3]
$4 million (2010)[3]
Owner Belden[4]
Number of employees
  • Increase400 (2013)
  • 300 (2011)
Website tripwire.com

Tripwire, Inc. is a software company based in Portland, Oregon[5] that develops, markets and sells information technology (IT) solutions that provide security and compliance automation. The company's software and hardware products provide organizations control over physical and virtual IT infrastructure.

Background

While a graduate student at Purdue University, Gene Kim, Tripwire’s co-founder and former Chief Technology Officer,[6] along with his professor, Dr. Eugene Spafford, created the initial version of the software in 1992.[7][8] This academic source release pioneered many techniques now used in intrusion detection[9] and received widespread support among corporate, education, and government security professionals.[10]

History

In 1997, Gene Kim co-founded Tripwire, Inc. The rights to the Tripwire name and technology were attained, and a commercial version of the product, Tripwire for Servers was released soon thereafter. In 2000, Tripwire contributed source code functionally equivalent to the academic source release to the open source community to enable Open Source Tripwire.[11]

In 2005, Tripwire released the first version of Tripwire Enterprise, the company’s flagship product designed to help organizations with IT configuration control by detecting, assessing, reporting and remediating file and configuration changes. In January 2010, Tripwire announced the release of Tripwire Log Center, log and security information and event management (SIEM) software that stores, correlates and reports log and security event data. The two products can be integrated to enable correlation of change and event data. Tripwire Enterprise and Tripwire Log Center are software in what Tripwire named the Tripwire VIA suite.

August 21, 2009, Tripwire acquired Activeworx technologies from CrossTec Corporation. That's include Log Center, Security Center, Event Management and Snort Management Center.

Revenues grew to $74 million in 2009.[12] In October 2009, the company had 261 employees;[13] that number grew to 336 by June 2010.[14]

By May–June 2010, the company had over 5,500 customers.[14] and had announced that it had filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.[15] A year later, the company announced its sale to the private equity firm Thoma Bravo LLC, ending its $86 million IPO plans.[2] CEO Jim Johnson cited the firm's failure to reach the $100 million revenue milestone in 2010 as well as changing IPO market expectations as reasons for not going through with the IPO.[16] The day following the acquisition, the company laid off about 50 of its 350 employees.[17] Johnson expects the company will eventually go public, though it is unlikely to happen before 2015.[16]

In April 2013, Tripwire acquired nCircle.[18]

In December 2014, Belden Inc announced plans to buy Tripwire for $710 million..[19] The acquisition was completed on January 2, 2015.[4]

References

  1. ↑ Hunsberger, Brent (January 22, 2010). "Another deal for a Portland office tower". The Oregonian. Retrieved 23 January 2010.
  2. 1 2 "Ending IPO bid, Tripwire sold to private equity firm". Portland Business Journal. May 11, 2011. Retrieved 2011-05-25.
  3. 1 2 "Tripwire boosts 2010 sales by 16%". Portland Business Journal. March 3, 2011. Retrieved 2011-05-25.
  4. 1 2 "Chertoff Capital Serves As Exclusive Investment Banking Advisor to Tripwire in Sale to Belden for $710 Million". chertoffgroup.com.
  5. ↑ "Tripwire Signs Five-Year Lease With One Main Place in Downtown Portland". Reuters. July 8, 2008. Retrieved 2011-05-25.
  6. ↑ "An Exciting Day! Leaving Tripwire To Begin My Next Chapter In Life". 2010-07-27. Retrieved 2012-12-17.
  7. ↑ Kim, Gene H.; Spafford, Eugene H. (1994). "The Design and Implementation of Tripwire: A File System Integrity Checker". Proceedings of the 2nd ACM Conference on Computer and Communications Security. ACM Press.
  8. ↑ "Gene Spafford's Personal Pages: Spaf's Students, Past and Present". Purdue University. Retrieved 2011-05-25. Gene H. Kim: Gene completed his BS degree in 1993 and his MSCS at the University of Arizona. He worked with me on the Tripwire project through COAST, released on November 2, 1992.
  9. ↑ Kim, Gene H.; Spafford, Eugene H. (1995). "Experiences with Tripwire: Using Integrity Checkers for Intrusion Detection" (PDF). Purdue Technical Report CSD-TR-94-012. ACM Press.
  10. ↑ "The 60 Minute Network Security Guide: First Steps Towards a Secure Network Environment" (PDF). United States National Security Agency, Systems and Network Attack Center. 2006.
  11. ↑ "Open Source Tripwire®". SourceForge. Retrieved 2011-05-25.
  12. ↑ Rogoway, Mike (January 19, 2010). "Tripwire reports 19 percent revenue growth". The Oregonian. Retrieved 20 January 2010.
  13. ↑ Rogoway, Mike (October 19, 2009). "Some tech companies fly high in down times". The Oregonian. Retrieved 2011-05-25.
  14. 1 2 "Tripwire Form S-1 Registration Statement". United States Securities and Exchange Commission. Retrieved 17 September 2010.
  15. ↑ "Tripwire Files Registration Statement for Proposed Initial Public Offering of Common Stock". Press Releases. Tripwire. May 28, 2010. Retrieved 2011-05-25.
  16. 1 2 Siemers, Erik (May 11, 2011). "Ending IPO bid, Tripwire sold to private equity firm". Portland Business Journal. Retrieved 2011-05-25.
  17. ↑ Rogoway, Mike (May 25, 2011). "Tripwire lays off about 50 following its sale". The Oregonian. Retrieved 2011-06-01. Tripwire laid off about 50 employees Tuesday — nearly 15 percent of its total work force — a day after the Portland network security company completed its sale to a private equity firm.But the layoffs would have happened regardless of that deal, according to Rekha Shenoy, Tripwire's vice president of marketing. Instead, she said, the company is "rightsizing" its work force to bring its headcount in line with industry peers.
  18. ↑ "Tripwire buys nCircle, a San Francisco network security company". The Oregonian. 2013-03-11.
  19. ↑ "Belden to buy cybersecurity firm Tripwire for $710 million". Investing.com. 2014-12-10.
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