Exabeam – a company that delivers industry-leading AI and automation for accelerated threat detection, investigation, and response (TDIR)- and LogRhythm (known for its trusted data ingestion) announced the successful completion of their previously announced merger.
This merger combines technological innovation with dependable data to create an AI-driven security operations platform that delivers the most efficient and accurate security information and event management (SIEM) and user and entity behavior analytics (UEBA) solutions.
The company will leverage the best of both to create a sophisticated cybersecurity vendor relentlessly focused on empowering security analysts, security engineers, and CISOs with the tools, intelligence, and guidance needed to safeguard their organizations against cyberthreats going forward. And the company will retain the Exabeam name and refresh the visual brand to represent the merging of two industry leaders and honor the legacy of the long-established LogRhythm brand.
Exabeam also unveiled its product roadmap and strategy, highlighting the proven and cloud-native AI-driven Exabeam Security Operations Platform that will serve as the foundation of its future product offerings. And on-premises LogRhythm SIEM customers will benefit from the powerful analytics offered through the Exabeam platform to combat sophisticated and credential-based attacks.
The company also remains committed to quarterly launches to its cloud-native and on-premises SIEM offerings as demonstrated by LogRhythm since July 2022.
By integrating AI-driven automation with reliable data, this strategy aims to streamline security operations and accelerate TDIR, enabling security teams to focus on quickly and effectively mitigating complex threats.
This new leadership team, composed of experienced executives from both companies, will drive Exabeam’s strategic direction and operational excellence:
— Christopher O’Malley – Chief Executive Officer
— Steve Wilson – Chief Product Officer
— Kevin Kirkwood – Chief Information Security Officer
— Allwyn “Olly” Lobo – Chief Development Officer (Cloud-native SIEM)
— David Rizzo – Chief Development Officer (Self-managed SIEM)
— Barry Capoot – Chief Financial Officer
— Joanne Wong – Chief Marketing Officer
— Matt Sarafian – Chief People Officer
— Chris Cesio – Chief Revenue Officer
— Peter Harteveld – Chief Value Creation Officer
J.P. Morgan Securities acted as exclusive financial advisor and Goodwin Procter acted as legal advisor to Exabeam on the transaction. Kirkland & Ellis acted as legal advisor to LogRhythm on the transaction.
KEY QUOTES:
“We are on the brink of a revolutionary shift in cybersecurity. By merging cutting-edge, AI-driven technology from Exabeam with the unmatched data integrity of LogRhythm, we are setting a new, unparalleled standard for security operations. Together, our combined expertise, innovation velocity, and vision will propel AI-driven cybersecurity solutions to new heights. Unlike the tech conglomerates that have left customers exposed in the critical battle against cyberattacks, our unwavering focus remains on empowering the true heroes of security. ”Good enough” is not enough in the mission-critical matter of security operations. Today, we are proud to deliver a best-of-breed SIEM and UEBA experience purposefully and tenaciously focused on customer success.”
– Christopher O’Malley, CEO of Exabeam
“Our team is stacked with expertise from both organizations that will accelerate our ability to deliver customer value. The Exabeam Security Operations Platform offers a comprehensive, foundational solution adaptable to any business – whether leveraging cloud infrastructure, adopting a hybrid model, or staying on-premises. By augmenting LogRhythm SIEM with Exabeam’s New-Scale AI-driven features, including UEBA and Exabeam Copilot, we will offer incredible new value to existing LogRhythm customers. New and existing Exabeam customers alike can look forward to continued innovation as we optimize our product, training, and service synergies. Together, our team will continue to address the ever-advancing threats created by the introduction of AI and empower our customers’ security operations teams to be more efficient and effective.”
– Steve Wilson, Chief Product Officer of Exabeam
“We see tremendous opportunity within TDIR, SIEM, and UEBA and believe that together LogRhythm and Exabeam are better positioned to capture this growing market by offering their customers the comprehensive solutions they need to help protect their organizations from ever-evolving cyberthreats. We look forward to Exabeam’s continued growth and innovation, powered by the combined company’s differentiated AI-driven security operations platform and loyal global customer base.”
– Chip Virnig, a Partner at Thoma Bravo
“Exabeam’s cutting-edge technology and customer focus have fueled the strong, collaborative relationship I have had with Exabeam over the last ten years. I am excited for Exabeam’s announced merger and look for this partnership to accelerate the innovative product roadmap and build on best-in-class service capabilities. Best wishes to Exabeam as they embark on this new chapter of continued success and growth.”
– Colin Anderson, CISO Dayforce
“We are incredibly pleased with the value we’ve seen from Exabeam solutions in securing our data and gaining the necessary visibility needed to protect our organization. Exabeam has been a true and trusted partner for BECU. Congratulations to everyone involved in the merger and this next phase of growth for the company. We look forward to continued cybersecurity excellence and innovation from the Exabeam team.”
– Jamie Schademan, Director Cyber Platform Security
“The merger of Exabeam and LogRhythm will undeniably improve the security operations landscape. With their combined strengths and product leadership the new organization is well equipped to tackle the challenges of modern security operations, offering a robust defense against sophisticated threats. This merger not only enhances the value proposition for customers, but also sets the stage for continued innovation and growth in the cybersecurity market.”
– Chris Steffen, Research Vice President – Information Security, Enterprise Management Associates
“As a long-time customer of LogRhythm, I’ve always been impressed with their commitment to innovation and delivering reliable security solutions. The merger with Exabeam opens a new horizon for us. In the accounting and finance sector, where data integrity and security are critical, we’re excited to see how this new powerhouse will push the boundaries of what’s possible. The advanced tools from this merger will enhance our security operations and help us stay ahead of sophisticated cyberthreats.”
– Jason Harris, IT Security Manager at Institute of Chartered Accountants in England and Wales (ICAEW)
