Silicon Valley access management vendor Delinea on Tuesday announced the acquisition of Israeli startup Authomize, a deal that adds identity threat detection and response (IDTR) technologies to its product portfolio.
Financial teams of the acquisition were not released but published reports out of Israel peg the price tag as “several tens of millions of dollars.”
The private equity-owned Delinea, formed in April 2021 through the merger of Centrify and Thycotic, said the deal extends its reach into the lucrative identity category and adds technology to help businesses to eliminate identity-based threats across SaaS, cloud, and traditional systems.
Authomize, which emerged from stealth in 2021 with ambitious plans in the IDTR space, raised about $22 million in venture capital funding from a roster of investors that included Tenable Ventures, BlumbergCapital, Microsoft M12, and Entree Capital.
In a note announcing the transaction, Delinea pointed to data that shows a surge in identity-related data breaches that could have a cascading effect through the cloud ecosystem.
“The shift towards cloud-based applications presents several challenges,” Delinea said. “The complexity and volume of accounts in these environments exacerbate risk. Unmonitored accounts, such as decentralized service accounts or insufficiently offboarded users, are prime targets. Visibility and control of these entitlements is one of the largest pain points facing organizations today as they move to the cloud.”
The company noted that attacks have moved to target identities, bypassing traditional security tools such as endpoint protection and network security.
WIth the Authomize acquisition, Delinea is hoping to expand the reach and capabilities of its flagship PAM (Privileged Access Management) platform to provide tooling for businesses to detect and mitigate abuse across all their identities in the world of integrated SaaS applications and hybrid infrastructure.
Related: Authomize Emerges From Stealth With Seed Funding
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