May 20, 2024 at 05:09PM
CyberArk will acquire Venafi for over $1.5 billion from Thoma Bravo to enhance its machine identity security. This move will enable CyberArk to address the increasing risk posed by machine identities in enterprise IoT environments and solidify its position as a market leader. The deal is expected to be completed by the end of 2024.
From the meeting notes, it is clear that CyberArk, an identity management provider, has announced its acquisition of Venafi from Thoma Bravo for over $1.5 billion. This strategic move is intended to expand CyberArk into end-to-end machine identity security.
Venafi specializes in providing machine identity management, which CyberArk’s Chief Strategy Officer, Clarence Hinton, believes will enable the company to help secure the extensive IoT attack surface within enterprises. Hinton highlighted a recent Identity Security Landscape report, which identified machine identities as the top driver of identity growth and the riskiest identity type in the enterprise, as rated by security professionals worldwide.
Overall, this acquisition positions CyberArk as the market leader in machine identity security across various credential types, use cases, and target environments. The deal is expected to be finalized by the end of 2024, as stated in the company’s acquisition announcement.