The Israeli cyber company CyberArk acquires Venafi, a company in the field of machine identity management, for $1.54 billion.
Cyberark, which specializes in identity security, plans to integrate Venafi’s machine identity management capabilities into its product, with the overarching goal of establishing a unified platform for end-to-end machine identity security for organizations.
Upon completion of the acquisition, the addition of Vanafy is expected to increase Cybark’s annual recurring revenue (ARR) by $150 million.
Udi Mokdi, founder and chairman of Cyberark, said with the announcement of the purchase that “it is another step in the realization of Cyberark’s vision to continue to build a giant blue and white global company, which answers the most complex challenges in the cyber world.”
Mokidi added: “Several years ago, we identified the field of identity security as a major challenge in the world of cyber protection and established a platform to protect them, based on our innovation combined with the technology of the company Idaptive that we purchased. Since then, we have seen a growing demand from customers for identity protection, who have become the object of the attack Number 1. Identity theft is the most effective way to bypass cyber defenses and gain access to sensitive data and information assets, when the number of machine identities is increasing exponentially. We live in a world where the average worker has about 30 digital identities, in addition to the increasing number of machine identities Today, the number of human identities is 45 times greater.”
Matt Cohen, CEO of Cyberark, added: “By joining forces with Venafi, we are expanding our ability to secure machine identities in a world of cloud-first, GenAI, and post-quantum cryptography. The synergy between the technologies, capabilities and expertise of Cyberark and Venafi will meet the needs of global organizations and help information security managers defend against increasingly sophisticated attacks that leverage human and machine identities as part of the attack chain. Venafi brings world-class talent that shares Cyberark’s corporate culture of customer-centricity, putting people first and focusing on security first. We are excited to work with the Venafi team to take advantage of the tremendous opportunity for growth in the $60 billion identity security market.”
