Identity Security Company Cyberark have acquired Governance and Identity Governance Platform (IGA) Zilla Security In an agreement worth up to $ 175 million.
The transaction consists of a number of cash $ 165 million and additional “profit” of $ 10 million, which is paid upon fulfillment of certain landmark-may be considered an incentive for the founders or other basic staff to hang the transitional phase.
Founded in 1999, Boston -based Cyberark specializes in Access Managementincluding privileged access security that helps organisms to protect sensitive data and critical infrastructure from external (and internal) threats.
Cyberaark has made eight well -known acquisitions in the past, the longest of some distance was the $ 1.54 billion he paid for the Venafi machine’s identity company last year.
Zilla, for its part, is another Boston -based security company that operates in the field of identity and access management. But since it was founded in 2019, Zilla is a weaker cloud player who has added More automation and Characteristics with the possibility of ai For the mixture, making it a tempting proposal for a much larger company that was founded in the days before Saas or Cloud Computing had kept.
“What worked 20 years ago does not work clearly today,” Zilla’s chief executive and co -founder Deepak Taneja said in a statement.
Zilla had raised about $ 19 million since its establishment six years ago, with supporters such as Firstmark, Pillar VC and Tola Capital.
Reformation of identity governance
The long and short of all this is that Cyberark wants to boost its own “cloud -made” tools, with AI in the core and easy integration for hybrid and multiple invocation environments.
“With the expansion of Cyberark’s identity platform with the modern potential of Zilla’s Zilla, we will reshape identity governance with the expandable automation that provides compliance and helps to maximize security for the modern business,” added CEO CYBERK MATT COHEN. statement.
This does not mean that Cyberark has not already modernized. The company was made public at Nasdaq 2014and its shares are now sitting over 1,000% on the price of iPO – only in the past year, its valuation has increased by 41% to more than $ 18 billion. Earlier today, the company published the Results Q4 This revealed an annual increase in revenue by 41%. Specifically, subscription revenue, in particular, increased by 62%, with the annual repetitive revenue (ARR) exceeding the $ 1 billion signal.
As a result of the transaction, Cyberark will offer basic Zilla services – including Zilla Comply and Zilla Provisioning – as autonomous products via the Cyberaark ID safety platform. In addition, the co-founders of Zilla-Deepak Taneja and Nitin Sonawane-and their team will join Cybeark.
