Monthly Archives: January 2006

FishNet Security Merges with California Based SiegeWorks LLC

FishNet Security (FNS) is pleased to announce that it has closed on an agreement with SiegeWorks LLC to merge the two information security businesses. SiegeWorks has become a wholly owned subsidiary of FishNet Security. The combined companies will have nearly 200 information security professionals operating out of 18 locations across the U.S. with Corporate Headquarters in Kansas City, Missouri and Western Region headquarters in Livermore, California.

“We are very pleased to make this announcement,” says Gary Fish, CEO of FishNet Security. “FishNet Security could not have found a better West Coast partner to add to our vision of building the nation’s largest Information Security Solutions Provider. Our businesses, and more importantly our cultures, are very similar and complimentary,” explains Fish. “SiegeWorks has a strong management team that will become an integral part in executing our national expansion strategy”.

The SiegeWorks team is very excited to join forces with FishNet Security,” says Jeff Bennett, CEO of California based SiegeWorks LLC. “Combined, we now have the scale and breadth of resources to further deliver on our promise of providing world class security solutions.”

“We congratulate Gary Fish and Jeff Bennett and their teams for having found such complimentary partners”, said Jeff Frient, Partner at the Edgewater Funds, an investor in FNS. “The combined business will be the largest information security solution provider nationally.”

About FishNetSecurity 

FishNet Security is the nation’s most respected security solutions provider. FNS expertise includes information security strategy, continuous risk and application assessment, planning, implementation, management, training and support — enabling businesses to meet their unique security needs. Since 1996, FNS has offered information security services and products to global enterprises, government agencies, and small-medium sized businesses. For more information about FishNet Security, please visit us at www.fishnetsecurity.com.

About SiegeWorks LLC 

SiegeWorks LLC is a leading global enterprise security services, consulting and integration firm, serving as clients’ critical first line of defense. Clients obtain a direct connection to SiegeWorks’ vast network of resources, knowledge and expertise, which is renowned as one of the most advanced in the complex area of large application and database security.

Bantek West, Efmark announce merger

Bantek West Inc. and Efmark Premium Armored, two privately held pioneers in the ATM service space, announced plans to merge Jan. 4.

According to a news release, the merger is expected to pair the strengths and resources of both companies. Efmark customers will gain access to a broader service portfolio, including branch coin and cash services and maintenance of equipment such as bank-system computers, teller-cash dispensers, recyclers and teller/platform-automation systems. Bantek customers will benefit from Efmark’s broad maintenance and service reach, hardware sales, cash management and technical expertise.

“Our merger with Bantek will enable us to continue to keep pace with increasing growth and consolidation in the financial services industry,” said Mark Hoppe, Efmark’s president and chief executive officer. “As financial institutions seek cost efficiencies in their growing ATM networks, our combined company will be in a unique position to offer an end-to-end solution to meet their every need.”

The merger creates a national footprint of 75 armored branches located in 43 states, capable of servicing the continental United States. The new company will have a national infrastructure of more than 2,500 employees.

The Edgewater Funds, a Chicago-based private equity firm that is a minority shareholder in Bantek, is expected to help fund the merger and become a minority shareholder in the combined company. The companies will operate as wholly owned subsidiaries of a newly formed holding company that will continue to be owned by both companies’ shareholders.

The holding company is expected to adopt a new name and identity in early 2006. All services will be marketed and sold solely under that new name shortly thereafter.

“Bantek joining forces with Efmark creates an unparalleled value proposition for financial institutions,” said Fred Wich, vice chairman of Bantek. “While the companies have had the same strategic vision, our strengths complement one another, and each company brings something new to the table, making us better equipped to deliver the benefits of a true single-source provider.”