LogRhythm, a company helping organisations reduce risk by detecting and neutralising damaging cyberthreats, has been purchased by Thoma Bravo.
The US private equity firm has agreed to buy a majority stake in the business, which provides security information and event management solutions (SIEM).
Based in San Francisco and Colorado, LogRhythm’s NextGen SIEM Platform combines traditional SIEM capabilities with user and entity behaviour analytics (UEBA), network traffic and behaviour analytics (NTBA) and security automation & orchestration (SAO).
These combined capabilities deliver end-to-end Threat Lifecycle Management and serve as the foundation for the AI-enabled Security Operations Center (SOC).
“LogRhythm believes it has found an ideal partner in Thoma Bravo,” added Andy Grolnick, chairman, president and CEO of LogRhythm. “As we seek to take LogRhythm to the next level and extend our position as the market’s preeminent NextGen SIEM vendor, we feel Thoma Bravo’s cybersecurity domain expertise and track record of helping companies drive growth and innovation will make this a powerful and productive relationship. We believe this is an exciting strategic step forward for our company.”
The company provides its solutions to a range of industries including Banking & Finance, higher education (SLED), energy & utilities, DoD & federal sector, health care, and retail & hospitality.
Banks and other financial institutions face many challenges in securing their networks and satisfying an extensive list of compliance requirements, such as Gramm-Leach-Bliley (GLBA) and Sarbanes Oxley (SOX).
LogRhythm helps users achieve compliance by providing pre-configured automation modules that address many regulatory frameworks. They use content provided by our LogRhythm Labs team as part of the LogRhythm TLM Platform.
The company helps with regulations such as GDPR, FISMA, GPG13, PCI DSS, HIPAA, HITECH & MU NERC CIP, SOX, ISO 27001, MAS-TRMG, NIST-CSF and NRC RG 57.1.
“Since 2003, LogRhythm has proven its innovation and leadership in the application of automation, analytics and artificial intelligence to solve customers’ advanced threat detection and threat lifecycle management challenges, and achieve security operations workflow efficiency,” said Chris Petersen, CTO, chief product officer and co-founder of LogRhythm.
“We look forward to working closely with Thoma Bravo to continue our customer-centric approach to innovation, enabling enterprises across the globe to protect themselves from damaging cyberthreats.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
