May 15, 2024 at 02:06PM
LogRhythm, owned by Thoma Bravo, plans to merge with rival Exabeam in a significant development in the SIEM landscape. The financial terms were not disclosed, but Exabeam’s recent valuation was $2.5 billion. The merged entity aims to leverage AI-driven security operations and bring enhanced R&D investments, product innovation, and expanded services to customers. The merger is expected to close in the third quarter of 2024 pending regulatory approval.
From the meeting notes, the key takeaways are as follows:
– Thoma Bravo-owned LogRhythm is planning to merge with rival Exabeam in the Security Information and Event Management (SIEM) landscape.
– The financial terms of the merger have not been released, but Exabeam’s most recent valuation was pegged at $2.5 billion.
– The merged entity aims to combine impressive technologies in the threat detection, investigation, and response (TDIR) category to leverage AI-driven security operations to new heights.
– Customers are promised enhanced R&D investments, product innovation, expanded service and support coverage, and access to a larger AI-driven product portfolio.
– The merger is expected to close in the third quarter of 2024, subject to regulatory approvals.
– Exabeam sells a security log management and SIEM platform with behavioral analytics and automated threat detection, investigation, and response capabilities.
– In June 2021, Exabeam raised $200 million in a late-stage funding round with a valuation of $2.5 billion.
– The company has numerous resellers and technology integrations with leading IT and security companies.
– Investors in Exabeam include Blue Owl Capital, Acrew Capital, Lightspeed Venture Partners, and Norwest Venture Partners.
– Exabeam and LogRhythm compete with other major players in the SIEM landscape, such as Splunk, Microsoft Sentinel, IBM, and Securonix.