CyberArk, a Newton-based security company that provides multi-layer protection to secure privileged account information, has acquired Santa Clara, Calif.-based Idaptive for $70 million in cash.
Idaptive, which was founded only two years ago, focuses on comprehensive single sign-on, multi-factor authentication and identity life cycle management for companies.
The acquisition will enable CyberArk to will deliver a comprehensive AI-based, security-first approach to managing identities. Idaptive's core functionalities will allow CyberArk to improve its clients' their overall security and address regulatory requirements.
“With cyber attacks on the rise, organizations need modern, comprehensive solutions to make better, continuous access and authorization decisions for the broadest range of users,” CyberArk CEO Udi Mokady said in a statement. “With Idaptive, CyberArk will offer customers a SaaS-delivered, security-first approach to managing identities – with Privileged Access Management at its core – that reduces risk, simplifies operations and improves business agility. We are thrilled to welcome the Idaptive team to CyberArk.”
Idaptive is CyberArk's sixth acquisition since it went public in 2014. The 21-year-old company, which was founded in Israel and now has offices in Asia-Pacific, Europe and North America, last acquired cloud data encryption platform Vaultive in 2018.
