CyberArk, an identity security firm, and Venafi, a leader in machine identity management, have concluded their acquisition process.
This strategic move is set to broaden CyberArk’s capabilities in securing both human and machine identities, enhancing privilege controls across various platforms.
The acquisition, valued at an expansion of CyberArk’s total addressable market by $10bn to approximately $60bn, aims to fortify CyberArk’s position in the identity security market. Venafi’s expertise in machine identity management complements CyberArk’s robust security frameworks, setting a foundation for innovative, end-to-end security solutions tailored for a growing list of machine identities that include workloads, applications, and IoT devices.
CyberArk is a global leader in identity security, specialising in providing organisations with comprehensive solutions to protect against advanced cyber threats. The company’s products focus on managing privileged accounts and reducing risks by controlling access to critical systems.
Venafi, on the other hand, excels in machine identity protection, offering solutions that manage and secure machine-to-machine connections and communications. Venafi’s technologies are crucial for the secure operations of certificates, PKI, and SSH, which are essential for the integrity of enterprise IT environments.
This acquisition enables CyberArk to integrate Venafi’s technologies into its platform, creating a unified system for identity and access management. This integration is expected to result in the industry’s most extensive platform for machine identity security, addressing the growing complexities and numbers of machine identities that challenge traditional security protocols.
CyberArk’s acquisition of Venafi not only expands its product offerings but also its market reach, enhancing its capabilities to meet the evolving security needs of modern digital infrastructures. With the rise of digital transformation, the security of machine identities has become more crucial than ever, underlining the importance of this strategic move.
CyberArk CEO, Matt Cohen, expressed enthusiasm about the acquisition: “We are thrilled to officially welcome the exceptional Venafi team to CyberArk. Over the past months, every interaction has further validated that this acquisition is a great fit from all perspectives – technology, people, culture and spirit of innovation,” he said. “Machines are the fastest growing and most complex identity and today, many organizations rely on manual processes and siloed tools to secure and manage them. By joining forces, CyberArk and Venafi will set a new paradigm, with the industry’s most comprehensive platform for end-to-end machine identity security at enterprise scale.”
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