Global private equity firm Thoma Bravo has agreed a deal to buy Centrify, an identity & access management platform.
The firm will buy the cybersecurity company from its venture capital investors, led by Mayfield, Accel Partners, Jackson Square Ventures and Index Ventures. The transaction is expected to close in the third quarter of this year; however, financial details of the transaction have not been disclosed. To date, the company has raised about $94m from investors, having closed its Series E round on $42m in May 2014.
Founded in 2004 and headquartered in Santa Clara, California, Centrify serves over five thousand customers, including over half the Fortune 100. It customer base spans the public and private sectors, including blue-chip Global 2000s, across diverse industries including defense, banking, energy, retail, manufacturing and health care.
“Centrify is unique in that it offers products across the entire continuum of identity access management through a cutting-edge, natively built cloud platform,” said Carl Press, a principal at Thoma Bravo. “We see opportunities to both strengthen its leadership position within the privileged identity market as well as accelerate its growth in single sign-on (SSO) and multi-factor authentication (MFA).”
According to the 2018 Verizon Data Breach Investigations Report, compromised user identities is the top cybersecurity attack vector. Centrify helps address this challenge by providing a unified Next-Gen Access platform for Zero Trust Security.
The Centrify Zero Trust Security model assumes that users inside a network are no more trustworthy than those outside the network. Centrify verifies every user, validates their devices, and limits access and privilege. It also utilizes machine learning to discover risky user behaviour and apply conditional access, without impacting user experience. The company’s Next-Gen Access claims to be the only industry-recognised solution that uniquely converges Identity-as-a-Service (IDaaS), enterprise mobility management (EMM) and privileged access management (PAM).
Last month, Thoma Bravo purchased LogRhythm, a company helping organisations reduce risk by detecting and neutralising damaging cyberthreats. Its 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).
The private equity firm also recently paid $1.6bn to purchase Barracuda Networks, a provider of cloud-enabled security and data protection solutions. That deal came two months after Thoma Bravo agreed to sell Bomgar, a secure access solutions provider, to Francisco Partners.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
