DEVOPSdigest

CyberArk announced the successful completion of its acquisition of Venafi, a provider of machine identity management, from Thoma Bravo.

This acquisition enables CyberArk to further deliver on its vision to secure every identity – human and machine – with the right level of privilege controls. Together, CyberArk and Venafi will build end-to-end machine identity security solutions that help organizations vastly improve security and stop costly outages. Venafi adds complementary solutions that expand CyberArk’s total addressable market by $10 billion to approximately $60 billion.

“Over the past months, every interaction has further validated that this acquisition is a great fit from all perspectives – technology, people, culture and spirit of innovation,” said Matt Cohen, Chief Executive Officer, CyberArk. “Machines are the fastest growing and most complex identity and today, many organizations rely on manual processes and siloed tools to secure and manage them. By joining forces, CyberArk and Venafi will set a new paradigm, with the industry’s most comprehensive platform for end-to-end machine identity security at enterprise scale.”

“CyberArk's acquisition of Venafi underscores the growing recognition of the critical role machine identities play in securing modern digital environments,” said Katie Norton, Research Manager, DevSecOps and Software Supply Chain Security at IDC. “While organizations have heavily invested in human identity security, the automation and management of credentials for machine identities has not historically received the same attention. Together, the companies' complementary capabilities should enable organizations to implement a more comprehensive machine identity security strategy, reducing risk and enhancing operational efficiency.”

The combination of Venafi’s certificate lifecycle management, enterprise Public Key Infrastructure (PKI), workload identity management, secure code signing and SSH security with CyberArk’s secrets management capabilities, will empower organizations to protect against misuse and compromise of machine identities at scale.

Under the terms of the agreement, CyberArk acquired Venafi for approximately $1.54 billion in a combination of cash and CyberArk ordinary shares (approximately $1 billion in cash and approximately $540 million in ordinary shares).