Acquisition Will Extend Value of Privileged Access Management and Further CyberArk’s SaaS-delivered Innovation in Identity Security
CyberArk (NASDAQ: CYBR), the global leader in privileged access management, today announced it has acquired Santa Clara, California-based IDaptive Holdings, Inc. (Idaptive). Together, CyberArk and Idaptive will deliver the industry’s only modern identity platform with a security-first approach.
As organizations move IT resources to hybrid and multi-cloud environments, and accelerate automation and digital transformation initiatives, the number of privileged credentials associated with human, application and machine identities continues to grow exponentially. And so do the risks. In modern IT environments, all identities can become privileged under certain conditions, based on the systems, environments, applications or data they are accessing, or the types of operations they are performing.
A traditional approach to access management is often not enough to prevent unauthorized activity. Today, users of all types are provisioned some form of privileged access, exposing critical systems and creating pathways for threat actors to execute increasingly targeted attacks. Compromised and weak credentials are reported as the cause for more than 80% of data breaches.1
This new reality requires a new kind of Identity Security platform.
Through the acquisition, CyberArk and Idaptive will deliver a comprehensive Artificial Intelligence (AI)-based, security-first approach to managing identities that is adaptive and context-aware, and architected on the principles of Zero Trust and least privilege access, to dramatically reduce risk. CyberArk will extend its ability to manage and protect identities with various levels of privileges across hybrid and multi-cloud environments, enabling customers to improve their overall security posture with a more efficient and seamless user experience, and address ever-increasing and complex regulatory requirements.
Idaptive is recognized as a leader by industry analyst firms for capabilities including:
Comprehensive Single Sign-On (SSO), Multi-Factor Authentication (MFA) and identity lifecycle management for workforce, third-party, machine and consumer identities
AI-powered adaptive SSO and MFA capabilities to escalate suspicious user interactions while “fast tracking” non-risky requests to enable users to be both secure and productive
Improved operational efficiencies delivered through robust multi-directory support that doesn’t require the replication of identity information
“With cyber attacks on the rise, organizations need modern, comprehensive solutions to make better, continuous access and authorization decisions for the broadest range of users,” said Udi Mokady, founder, chairman and CEO, CyberArk. “With Idaptive, CyberArk will offer customers a SaaS-delivered, security-first approach to managing identities – with Privileged Access Management at its core – that reduces risk, simplifies operations and improves business agility. We are thrilled to welcome the Idaptive team to CyberArk.”
The total purchase price for the acquisition of Idaptive was $70 million in cash consideration.
CyberArk (NASDAQ: CYBR) is the global leader in privileged access management, a critical layer of IT security to protect data, infrastructure and assets across cloud and hybrid environments and throughout the DevOps pipeline. CyberArk delivers the industry’s most complete solution to reduce risk created by privileged credentials and secrets. The company is trusted by the world’s leading organizations, including more than 50 percent of the Fortune 500, to protect against external attackers and malicious insiders. A global company, CyberArk is headquartered in Petach Tikva, Israel, with U.S. headquarters located in Newton, Mass. The company also has offices throughout the Americas, EMEA, Asia Pacific and Japan. To learn more about CyberArk, visit https://www.cyberark.com