Idaptive, a US-based identity management platform spun out from cybersecurity company Centrify, was acquired by cybersecurity technology producer CyberArk for $70m in cash yesterday.
Founded in 2018, Idaptive has built an artificial intelligence-powered secure access management technology based on zero-trust architecture – that is, users operating within a network are not automatically assumed to be safe.
The technology relies on functionality such as multi-factor authentication and behaviour analytics, ensuring users are who they say they are – preventing misuse of login credentials – and can only access files they are allowed to see.
CyberArk expects Idaptive’s platform to help it bolster its market position in areas including hybrid and multi-cloud environments.
Udi Mokady, founder, chairman and CEO, CyberArk, said: “With cyberattacks on the rise, organisations need modern, comprehensive solutions to make better, continuous access and authorization decisions for the broadest range of users.
“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 does not appear to have raised external funding, but it is unclear how large Centrify’s shareholding was.
