ThycoticCentrify is a leading cloud identity security vendor, enabling digital transformation at scale. Learn more about Delinea on, Delinea Inc. (formerly Centrify Corporation) 2022. Delinea provides privileged access management (PAM) solutions. Centrify's capabilities include Single Sign-On, user provisioning, and multi-factor . Okta is acquiring Auth0 for identity, single sign-on, multi-factor authentication and passwordless security technologies. Centrify has market share of 0.16% in cyber-security market. Thycotic, meanwhile, has been the fastest-growing company in the PAM market, growing at 40 percent year over year, one source told PE Hub. Thycotic and Centrify together will help companies navigate this new environment with an innovative and intuitive product suite, backed by some of the most experienced operators in the identity security sector.. Organizations struggle to keep up with the complexity of protecting the ever-growing number of privileged accounts created by the business requirements to move more infrastructure and services into the cloud. PAM, one of the fastest-growing areas in cyber-security today, is expected to double from $2.2B to $5.4B by 2025, according to KuppingerCole. ThycoticCentrify's industry-leading privileged access management (PAM) solutions reduce risk,. ThycoticCentrify's industry-leading privileged access management (PAM) solutions reduce risk, complexity, and cost while securing organizations' data, devices, and code across cloud, on-premises, and hybrid environments. ContactThycoticCentrify:Brad Shewmakebrad.shewmake@centrify.com858-735-8748, Allison ArvanitisLumina Communicationsthycotic@luminapr.com910-690-9482, San Francisco, CA 94105 +1 (415) 263-3660. Delineas solutions grant access to an organizations most critical data, devices, code, and cloud infrastructure using a centralized dashboard. . James Legg, Thycotics CEO, will be named President. The combined company has now begun integrations and will operate under the temporary name ThycoticCentrify. The combination creates a dynamic identity security provider offering scalable, world-class products in an environment where cyber-attacks are increasing in frequency and sophistication. after an extensive rebranding exercise. TPG Capital confirmed the Centrify-Thycotic business merger plan today. Your email address will not be published. Users get access when and where they need it, for as long as needed to complete the task. Santa Clara, Calif. and Washington, DC April 13, 2021 Thycotic, a leading provider of Privileged Access Management (PAM) solutions for more than 12,500 organizations worldwide, and Centrify, a leading provider of modern Privileged Access Management solutions to over half of the Fortune 100, today announced that the companies have completed Conversational Geek eBooks provide best practices for organizations to accelerate PAM maturity for New Conversational Geek eBook provides best practices to protect servers from cyberattacks. He joined Symantec in November 2018 to run the enterprise divisions product and engineering teams and left two years later as part of a Symantec executive exodus. The combination of Thycotic and Centrify will create one of the most effective SaaS platforms in the identity security market, bringing together complementary product capabilities, best-in-class technology, and deep expertise to better enable and protect the modern, hybrid enterprise. Evercore declined to comment, while Thycotic, Centrify, TPG and Insight Partners didnt immediately respond to CRN requests for comment. PAM, one of the fastest-growing areas in cyber-security today, is expected to double from $2.2B to $5.4B by 2025, according to. TPG Capital acquired Centrify from Thoma Bravo in January 2021. TPGs Software and Enterprise Technology team has a history of partnering with great management teams to build companies into dynamic technology platforms that play strategically important roles in their markets. PAM, one of the fastest-growing areas in cyber-security today, is expected to double from $2.2B to $5.4B by 2025, according to KuppingerCole. Davis Polk & Wardwell served as legal counsel to TPG, and Willkie Farr & Gallagher served as legal counsel to Insight Partners. Enhanced industry-leading privilege elevation platform leverages the power of the Centrify Client to ensure just-in-time access for time-critical activities News provided by ThycoticCentrify Backed by TPG Capital, Delinea was formed in April 2021 through the merger of established PAM leaders Centrify and Thycotic to create the most extensive platform in the identity security market. The company was acquired in July 2018 by Thoma Bravo from a consortium of venture capital firms, and three months later announced plans to spin its Identity-as-a-Service business into a stand-alone company called Idaptive. Redwood City, CA February 1, 2022 - Delinea today announced its debut as a leading provider of privileged access management (PAM) solutions for seamless security. The private equity firm also named former Symantec Enterprise Head and Skyport Systems CEO Art Gilliland as Centrifys next CEO, replacing Flint Brenton, who has only held the top job at Centrify since July 2020. The combined company will deliver one of the most comprehensive product offerings in the business with the ability to adopt and scale to meet the evolving needs of customers.. Identity Access and Management (IAM) is a broad term for ensuring the right people or machines are properly identified and given access to specific resources for a given length of time according to enterprise policies. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Managed Security Services Providers (MSSP) News, Analysis and Cybersecurity Research. See all technology M&A deals for 2021 and 2020 listed here, Insight Partners preparing to sell Thycotic, TPG Capital acquired Centrify from Thoma Bravo, Top 250 Managed Security Services Providers (MSSP) Company List, Top 40 Managed Detection and Response (MDR) Company List. Based in Washington D.C. (US), Thycotic offers Secret Server as its primary Password Management product and Privilege Manager for Endpoint Privilege Management. All vendors are listed alphabetically. ThycoticCentrifys deployment speed and PAM-as-a-Service offerings, paired with its strong identity bridging capabilities and deep experience operating in highly complex environments, creates one of the broadest SaaS offerings that enables organizations of all sizes to meet the needs of their customers in an efficient, safe, and compliant way. About CentrifyCentrify delivers modern Privileged Access Management (PAM) solutions based on Zero Trust principles to enable digital transformation at scale. About TPGTPG is a leading global alternative asset firm founded in 1992 with more than $91 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. All other trademarks are the property of their respective owners. Gilliland will serve as the CEO of the newly expanded business. Company News IT Management. Private equity firm TPG Capital is bringing together privileged access management (PAM) powerhouses Thycotic and Centrify to create a leading cloud identity security vendor. As weve previously reinforced, our customers are our highest priority. Backed by the financial strength of TPG Capital, the combined company brings together complementary product capabilities, best-in-class technology, and deep expertise to better enable and protect the modern, hybrid enterprise in an environment defined by ever-increasing, identity-based cyber-attacks. TPG has also developed formidable investment expertise in cybersecurity, having invested approximately $2 billion of equity into the space across the firms platforms. Editor's note: A spokesperson for BeyondTrust has been in touch to say the business's 2020 revenue was "approaching $300m" as opposed to $140m as first reported. Organizations struggle to keep up with the complexity of protecting the ever-growing number of privileged accounts created by the business requirements to move more infrastructure and services into the cloud. The move. Our solutions empower organizations to secure critical data, devices, code, and cloud infrastructure to help reduce risk, ensure compliance, and simplify security. Over half of the Fortune 100 trust Centrify, including the worlds largest financial institutions, intelligence agencies, and critical infrastructure companies. Backed by TPG Capital, Delinea was formed in April 2021 through the merger of established PAM leaders Thycotic and Centrify. All contents 2023 MSSP Alert and After Nines Inc. Centrify CEO Art Gilliland will lead the new company. The combination of Thycotic and Centrify creates a leader in one of the most important and strategic sub-sectors of security software, TPG Capital Partner Tim Millikin said in a statement. This cloud-centric business transformation has created more opportunities for cyber-attackers and driven a greater need for better control and compliance around these types of accounts. As ThycoticCentrify, both companies continued to operate in a business-as-usual mode through the integration process. With their world-class leadership, we remain extremely bullish on Thycotic and Centrifys combined future.. Eight months ago, Brenton took over as Centrifys CEO after Steinkopf retired for health reasons. Thycotics history of innovation, deployment speed, and leadership in the cloud complements Centrifys strong identity bridging capabilities and deep experience operating in highly complex environments. The company's channel sales rose 28 percent in 2020. Private equity firm TPG Capital has acquired Thycotic from Insight Partners, and will merge the business with Centrify. Identity security is mission-critical to any organizations cybersecurity infrastructure and is becoming even more essential in a deeply interconnected world constantly under threat of cyber-attacks. Evercore acted as lead financial advisor and BofA Securities acted as financial advisor to Thycotic and Insight Partners. Combining these two synergistic platforms allows us to offer customers an expanded range of products to address their increasingly complex security requirements, Legg said in a statement. The company generated $120 million in revenue - $100 million of which is recurring on an annual basis - and is nearly breakeven on earnings before interest, taxation, depreciation and amortization (EBITDA), according to PE Hub. Backed by TPG Capital, Delinea was formed in April 2021 through the merger of established PAM leaders Thycotic and Centrify. This transition to ThycoticCentrify was a very exciting time for all of us, and the opportunities tremendous. Organizations struggle to keep up with the complexity of protecting the ever-growing number of privileged accounts created by the business requirements to move more infrastructure and services into the cloud. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. Centrify was historically focused on the Fortune 250 while Thycotic served customers below the Fortune 250 down to $200 million in annual sales, though the two companies had some overlap in the. Centrify and Thycotic were evaluated separately after their announced acquisition and planned merger by TPG in March 2021. Santa Clara, Calif. and Washington, D.C.Thycotic, a leading provider of privileged access management (PAM) solutions for more than 12,500 organizations worldwide, and Centrify, a leading provider of modern privileged access management solutions to over half of the Fortune 100, today announced that the companies have completed their previously-announced merger to form a leading cloud identity security vendor. "We are pleased to announce that all regulatory hurdles have been cleared and we are beginning the integration process. The MSSP offering includes a multi-tenant platform approach fromStarLink(a distributor). Citi acted as a financial advisor to TPG. The acquisition of Thycotic from Insight Partners and subsequent merger follows TPG's previously announced acquisition of Centrify, which has now closed. Thycotic and Centrify Merge to Become a Leading Cloud Privileged Identity Security Vendor, Thoma Bravo Completes Acquisition of Calabrio, ABC Fitness Solutions Acquires Fitness BI, a Leading Data Warehouse-as-a-Service Platform Providing On-Demand Business Insights to Health Clubs. Financial terms were not disclosed. This cloud-centric business transformation has created more opportunities for cyber-attackers and driven a greater need for better control and compliance around these types of accounts. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). The task when and where they need it, for as long as needed complete. 2023 MSSP Alert and after Nines Inc. Centrify CEO Art gilliland will lead new. Legal counsel to Insight Partners access to an organizations most critical data, devices, code, and infrastructure. 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