CyberArk shells out $70M for access management provider Idaptive>
Silicon Angle – Maria Deutscher
Publicly traded cybersecurity provider CyberArk Software Ltd. is shelling out $70 million to buy Idaptive LLC, a firm that offers a platform for managing access to enterprise systems. CyberArk announced the deal this morning before its first-quarter earnings call. The company, which like Idaptive focuses on helping enterprises manage access to internal systems, beat the Zacks Consensus Estimate with net income of $19.6 million on $106.8 million in revenue. Idaptive spun out last year from Centrify Inc., a CyberArk competitor owned by Thomas Bravo LLC. Its namesake platform provides multifactor authentication and single-sign-on features that companies use to help employees securely log into applications. Administrators can monitor user activity in visual dashboards to catch potential security issues. One feature in particular that may have caught CyberArkâs eye is App Gateway, an add-on Idaptive offers for its platform to help remote workers securely access business applications.
Link: https://siliconangle.com/2020/05/13/cyberark-shells-70m-access-management-provider-idaptive/