Bomgar to Acquire BeyondTrust
Though Bomgar was itself acquired by Francisco Partners earlier this year, the company has announced today that it will acquire Phoenix, Arizona, based BeyondTrust, a privilege-centric security company. The joint company will operate under the BeyondTrust name, though the company will be headquartered in Bomgar's Atlanta office.
No specific terms of the acquisition were disclosed, but the deal is expected to close in October. “I’m confident that the additional investment and scale resulting from this combination will drive innovation for our customers and new opportunities for our partners as we expand our leadership position in the fast-moving Privileged Access Management market,” said Kevin Hickey, president and CEO of BeyondTrust, in today’s press release.
With the goal of moving its mission to help customers better defend against cyber-attacks forward, Bomgar has signed the agreement securing BeyondTrust’s extensive privileged access management (PAM) platform.
“We are extremely excited to build upon BeyondTrust’s Privileged Access Management leadership and the significant benefits it will bring to our joint customers, partners and people,” said Matt Dircks, CEO of Bomgar, who will lead the merged company as CEO.
“Both organizations bring talented employees who are passionate about protecting organizations from attacks related to privilege access. The greater scale and resources of the combined company will allow us to accelerate innovation and deliver technology that protects our customers from constantly evolving threats.”
As threats continue to evolve across endpoints, servers, internet of things, cloud and network device environments, the marriage of Bomgar’s security offerings and the BeyondTrust PAM portfolio – currently used by more than 19,000 customers worldwide – will enhance privileged credentials, remote access sessions and endpoint protections.
“Both Bomgar and BeyondTrust have a long history of driving innovation and efficiency and delivering solutions, services and support that customers love,” said Francisco Partners’ co-founder and CEO Dipanjan “DJ” Deb.
“Privileged Access Management is one of the top priorities for today’s security leaders, and we see incredible opportunity with the combination of Bomgar’s and BeyondTrust’s technology and talent,” said Brian Decker, partner and head of security investing at Francisco Partners.
“The joint team is focused on developing integrated and usable products, building an even stronger channel and continuing to deliver the highest levels of customer service and support.”
Source: Information Security Magazine