- Privileged access management company Cyberark Software Ltd (NASDAQ: CYBR) announced it has acquired IDaptive Holdings
Privileged access management company Cyberark Software Ltd (NASDAQ: CYBR) announced it has acquired IDaptive Holdings. Going forward, CyberArk and Idaptive will deliver the industry’s only modern identity platform with a security-first approach. The acquisition terms for Idaptive was $70 million in cash consideration.
CyberArk — which is based in Petach Tikva, Israel and has U.S. headquarters in Newton, Massachusetts — works with over 50% of the Fortune 500 for protecting against external attackers and malicious insiders.
As organizations are moving 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. And a traditional approach to access management is often not enough to prevent unauthorized activity.
Now users of all types have 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 of a majority of data breaches. And this new reality requires a new kind of Identity Security platform.
With the acquisition, CyberArk and Idaptive will deliver a comprehensive AI-based and 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. And 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 has become known 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. And the company’s AI-powered adaptive SSO and MFA capabilities are known to escalate suspicious user interactions while “fast tracking” non-risky requests to enable users to be both secure and productive. Plus the company’s improved operational efficiencies are delivered through robust multi-directory support that does not 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 CyberArk Software, Inc. Co-Founder, Chairman & CEO Udi Mokady. “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.”