Israeli cybersecurity company CyberArk has acquired identity startup Idaptive for $70 million in an all-cash deal.
CyberArk is one of the shining stars in the Israeli cybersecurity scene before its initial public offering in 2013 saw it go public on the Nasdaq. To date, its share price has almost quadrupled.
At the core of CyberArk's identity and privileged access management technology is making sure the right people — like corporate employees — can access the right systems and services. Data suggests exposed or breached credentials can account for most data breaches. Having technologies in place that put barriers in place to prevent credential misuse can prevent further damage.
No wonder Idaptive makes for a good fit.
Idaptive, a Santa Clara, Calif.-based startup that spun out from Centrify in 2018, made a name for itself by taking a zero-trust approach to identity security. Zero-trust treats every user the same, whether they're inside the firewall or not.
In a blog post, CyberArk said the acquisition will bolster its position in the identity management space, allowing its customers to improve their security posture across a multitude of different infrastructures, like hybrid and multi-cloud environments.
"Merging the innovative technology and talents of the Idaptive team with that of CyberArk represents an exciting opportunity to deliver a differentiated, modern approach as we work to continually meet the ever-changing needs of the dynamic threat landscape," said CyberArk's chief marketing officer Marianne Budnik.