CyberArk , the identity security company, announced the successful completion of its acquisition of Venafi, a leader in machine identity management, from Thoma Bravo. This acquisition enables CyberArk to further deliver on its vision to secure every identity – human and machine – with the right level of privilege controls. Together, CyberArk and Venafi will build end-to-end machine identity security solutions that help organizations vastly improve security and stop costly outages. Venafi adds complementary solutions that expand CyberArk’s total addressable market by $10 billion to approximately $60 billion.
“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,” said Matt Cohen, Chief Executive Officer, CyberArk. “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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Ongoing digital transformation, pervasive cloud computing and the rise of AI are driving an exponential increase in the number of machine identities, which can outnumber human identities by as much as 45-to-1, many of which remain undetected. If left unprotected and unmanaged, these identities can serve as a lucrative hunting ground for cybercriminals who seek to exploit their vulnerabilities. A new paradigm is required to keep pace with this rapid proliferation – shifting from inefficient manual, siloed approaches that create compliance and security risks to centralized management of machine identities across all applications and workloads for any cloud or IT environment at scale.
“CyberArk’s acquisition of Venafi underscores the growing recognition of the critical role machine identities play in securing modern digital environments,” said Katie Norton, Research Manager, DevSecOps and Software Supply Chain Security at IDC. “While organizations have heavily invested in human identity security, the automation and management of credentials for machine identities has not historically received the same attention. Together, the companies’ complementary capabilities should enable organizations to implement a more comprehensive machine identity security strategy, reducing risk and enhancing operational efficiency.”
All machine identities, including workloads, code, applications, IoT devices and containers, must be discovered, managed, secured and automated to keep their connections and communications safe. The combination of Venafi’s certificate lifecycle management, enterprise Public Key Infrastructure (PKI), workload identity management, secure code signing and SSH security with CyberArk’s secrets management capabilities, will empower organizations to protect against misuse and compromise of machine identities at scale.
SOURCE: CyberArk