Identity safety firm CyberArk has acquired id governance and administration (IGA) platform Zilla Security in a deal price as much as $175 million.
Founded in 1999, Boston-based CyberArk focuses on entry administration, together with privileged entry safety which helps organizations defend delicate information and demanding infrastructure from exterior (and inside) threats.
Zilla, for its half, is one other Boston-based safety firm working within the id and entry administration realm. Founded in 2019, Zilla is a nimbler cloud-native participant that has been including extra automation and AI-enabled options to its platform prior to now few years, making it an alluring proposition for a corporation based within the early days of the net earlier than Cloud Software or cloud computing had taken maintain.
“What labored 20 years in the past clearly doesn’t work at present,” Zilla CEO and co-founder Deepak Taneja stated in an announcement.
The lengthy and wanting all that is that CyberArk desires to bolster its personal merchandise with instruments “purpose-built for the cloud,” with AI at its core and straightforward integrations for hybrid- and multi-cloud environments.
“By increasing the CyberArk Identity Security Platform with Zilla’s trendy IGA capabilities, we are going to reshape id governance with scalable automation that delivers compliance and helps maximize safety for the trendy enterprise,” CyberArk CEO Matt Cohen added in an announcement.
That’s to not say that CyberArk hasn’t already been modernizing. The firm went public on the Nasdaq in 2014, and its shares at the moment sit greater than 1,000% up on its Stock Launch worth — and prior to now yr alone, its valuation has surged 41% to greater than $18 billion. Earlier at present, the corporate posted its This autumn outcomes that exposed a year-on-year income hike of 41%. Specifically, its subscription income particularly grew by 62%, with its annual recurring income (ARR) surpassing the $1 billion mark.
As a results of the transaction, each Zilla’s co-founders — Deepak Taneja and Nitin Sonawane — and their workforce will likely be becoming a member of CyberArk.
