Cybersecurity provider CyberArk acquires Idaptive for 70 million dollars (65 million euros). Idaptive is a company that provides a platform for managing access to enterprise systems.
CyberArk announced the acquisition during their first-quarter earnings call. Idaptive is known for its multi-factor authentication and single sign-on features that companies use to help employees securely log in to different applications.
An important feature that Idaptive uses in its services is App Gateway. This is an add-on that helps remote workers access business applications securely. App Gateway assigns a risk score to each login attempt and uses these scores to decide on the conditions under which access is granted to the user. After a login is authorized, the user is only connected to the specific application he/she needs to do the job, without accessing the rest of the company network.
App Gateway is based on zero-trust security. This technology is intended to replace the traditional virtual network tools traditionally used for remote application access. These tools are complicated to configure and are known to slow down the user experience.
The acquisition of Idaptive puts CyberArk in a better position to meet the increasing demand for cybersecurity tools. Due to the ongoing corona crisis, companies are forced to have their employees work from home. With the acquisition, Cyberark is also taking over Idaptive’s entire customer base of 500 organisations.
“Together, CyberArk and Idaptive will offer their customers a SaaS-based, AI-based, security-first approach to managing identities and reducing risk,” said Udi Mokady, Chief Executive Officer of CyberArk in a blogpost. “This helps us manage and protect identities more effectively with different levels of privileges in hybrid and multi-cloud environments.