Bomgar, a provider of Privileged Access Management (PAM) solutions, has purchased cybersecurity solutions provider BeyondTrust.
The companies will operate as a combined entity under the name BeyondTrust, which will be headquartered in Atlanta, GA and led by Matt Dircks, current CEO of Bomgar.
The joint product portfolio delivers the complete spectrum of capabilities required of a best-in-class PAM solution to protect and secure privileged access: credential discovery and rotation, privileged session management, endpoint privilege management, secure remote access, and vulnerability management.
More than 19,000 organisations worldwide currently use the companies’ combined solutions to discover and secure privileged credentials, remove excessive admin rights on endpoints, and protect remote access pathways.
Bomgar’s offering secures privileged credentials, remote access sessions, and endpoints, while empowering users to be more efficient and effective. Based in Phoenix, Arizona, BeyongTrust offers a PAM platform that enables organizations to scale privileged security as threats evolve across endpoint, server, IoT, cloud, and network device environments.
The combination of BeyondTrust’s PAM platform with Bomgar’s advanced privileged session and endpoint protection solutions will result in a portfolio of solutions for securing and defending organizations against threats related to the compromise and misuse of privileges.
According to a study commissioned by Centrify and conducted by Forrester, 80% of security breaches involve privileged credentials. Andras Cser, Forrester vice president and principal analyst, said: “The PIM (Privileged Identity Management) market is growing because more S&R (security and risk) professionals see PIM as part of the layered solution to address their top cyberthreat and data breach prevention challenges.”
Earlier this year, Bomgar was acquired by Francisco Partners, a leading technology-focused private equity firm. In the security space, Franciso’s portfolio includes metaswitch, Mitel, ShoreGroup, SonicWall, Blue Coat, Comodo, and Watch Guard, among others.
“Privileged Access Management is one of the top priorities for today’s security leaders, and we see incredible opportunity with the combination of Bomgar’s and BeyondTrust’s technology and talent,” added Brian Decker, partner and head of security investing at Francisco Partners. “The joint team is focused on developing integrated and easy-to-use products, building out the channel, and continuing to deliver the highest levels of customer service and support.”
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