CyberArk, a cybersecurity company, has announced the acquisition deal of Venafi, a developer of Device Identity Management systems, to enhance their comprehensive identity verification system for organizational customers.
In this deal, CyberArk acquired Venafi from the investment company Thoma Bravo, Venafi’s current owner, for a total value of $1.54 billion. CyberArk paid $1 billion in cash and $540 million in company shares.
Currently, identity verification systems for both users and devices help reduce organizational risks and consolidate solutions into a unified platform, supporting both SaaS and hybrid deployment models. Rapid detection of anomalies will be possible with the addition of Machine Identity tools, opening up new market opportunities worth over $10 billion for CyberArk.
Source: CyberArk
TLDR: CyberArk acquires Venafi to bolster their identity verification systems for organizational customers, enhancing security and opening up new market opportunities.
Leave a Comment