Identity & Access Management
,
Security Operations
Company Makes Bid for Multi-Cloud Security
California privileged access management vendor Delinea announced Tuesday its acquisition of Israeli startup Authomize in a bid to extend its reach in the growing identity market.
Delinea will incorporate Authomize cross-cloud identity capabilities into its access management platform, obtaining what Delinea Chief Product Officer Phil Calvin called “visibility beyond the boundaries of the firewall.”
See Also: A Guide to Passwordless Anywhere
The combination of Delinea and Authomize “gives customers the power to detect and mitigate active identity threats across SaaS applications, cloud and hybrid infrastructure,” said Delinea CEO Art Gilliland.
Gartner in 2023 kept Delinea at a top spot of its privileged access management Magic Quadrant, characterizing the PAM market as one of “midstage maturity” (see: CyberArk, BeyondTrust, Delinea Dominate Gartner MQ for PAM).
Company publicity cites research showing that corporations increasingly use more than one cloud provider – which leads to problems applying uniform access policies and obtaining visibility into user activity.
Most breaches have an identity component, according to the most recent annual Verizon Data Breach Investigations Report, which says 86% of breaches stem from phishing attacks and other forms of credential abuse.
Terms of the deal are not public. The acquisition is Delinea’s first since its February 2022 formation through a combination of Thycotic and Centrify at the hands of TPG Capital, which reportedly brought the two former rivals together after dropping more than $2 billion for the duo.
Authomize reported in 2021 obtaining $22 million in venture capital after emerging from stealth in 2020. Cybersecurity firm Tenable invested an additional amount in January 2023 – although it ended up acquiring Authomize competitor Ermetic in September (see: Tenable to Buy Startup Ermetic for $265M to Safeguard Clouds).
Authomize was founded in 2019 by CEO Dotan Bar-Noy, CTO Gal Diskin and Vice President, R&D Ron Liberman. The company of roughly three dozen employees will become Delinea’s Israeli-based research and development center.