CyberArk to Dramatically Simplify the User Experience for Privileged
Business Users and Cloud Administrators While Extending Proactive
Security Controls
NEWTON, Mass. & PETACH TIKVA, Israel--(BUSINESS WIRE)--Mar. 12, 2018--
CyberArk
(NASDAQ: CYBR),
the global leader in privileged
account security, today announced the acquisition of certain assets
of privately-held Vaultive, Inc., a cloud security provider. The deal
closed today.
The CyberArk
Privileged Account Security Solution is the industry’s most
comprehensive solution for protecting against privileged account
exploitation anywhere – on-premises, in hybrid cloud
environments and across DevOps
workflows. Building upon the Vaultive technology, CyberArk will deliver
greater visibility and control over privileged business users, and
Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS) and
Platform-as-a-Service (PaaS) administrators. By delivering a
cloud-native and mobile experience, Vaultive will extend the CyberArk
solution to these highly privileged users, which are frequent targets
for cyber attacks.
“The Vaultive team brings innovative technology and advanced cloud
industry experience to CyberArk. We look forward to incorporating the
technology to add additional depth and proactive protection for
enterprises facing an expanding attack surface in the cloud,” said Udi
Mokady, chairman and CEO, CyberArk. “Vaultive provides a strong building
block to accelerate CyberArk’s cloud security strategy, making CyberArk
the only vendor able to extend privileged account security to
administrators and privileged business users in cloud environments with
this level of granularity and control.”
According to IDC, worldwide spending on public cloud services and
infrastructure is forecast to reach $277 billion in 2021.1
Privileged business users and SaaS, IaaS and PaaS administrators have
broad and often unlimited access to a range of social media, web-based
sales operations and financial applications. That access must be
monitored and controlled consistently across multiple types of
applications, and be done in a way that doesn’t change the way cloud
administrators and privileged business users work.
“I'm extremely proud of everything that the Vaultive team accomplished,"
said Ben Matzkel, founder and CTO, Vaultive. "It's becoming increasingly
clear that customers desire a unified security approach that extends
from the data center to the cloud. Fortified with Vaultive's technology
and its team, CyberArk is uniquely positioned to meet this critical
need. We look forward to working closely with CyberArk customers around
the world to advance their privileged account security strategies for
the cloud.”
This acquisition furthers CyberArk’s leadership in securing modern
infrastructure and applications. Using CyberArk Conjur, organizations
gain a comprehensive secrets
management solution for DevOps toolchains and cloud-native
applications. Additionally, CyberArk offers cloud
platform support across AWS, Microsoft Azure and Google Cloud
Platform (GCP) and has validated the ability to stand up a privileged
account security solution in
AWS in 15 minutes or less. With the acquisition of Vaultive,
CyberArk extends its leadership to secure privileged
access to SaaS, IaaS and PaaS applications by administrators and
privileged business users.
1 – IDC Press Release, Worldwide Public Cloud Services Spending Forecast
to reach $160 Billion this year, According to IDC, January 2018
About CyberArk
CyberArk
(NASDAQ: CYBR)
is the global leader in privileged account security, a critical layer of
IT security to protect data, infrastructure and assets across the
enterprise, in the cloud and throughout the DevOps pipeline. CyberArk
delivers the industry’s most complete solution to reduce risk created by
privileged credentials and secrets. The company is trusted by the
world’s leading organizations, including more than 50 percent of the
Fortune 100, to protect against external attackers and malicious
insiders. A global company, CyberArk is headquartered in Petach Tikva,
Israel, with U.S. headquarters located in Newton, Mass. The company also
has offices throughout the Americas, EMEA, Asia Pacific and Japan. To
learn more about CyberArk, visit www.cyberark.com,
read the CyberArk
blogs or follow on Twitter via @CyberArk,
LinkedIn
or Facebook.
Cautionary Language Concerning Forward-Looking Statements
This release contains forward-looking statements that express the
current beliefs and expectations of CyberArk’s (the “Company”)
management related to the acquisition of certain assets of
privately-held Vaultive, a cloud security provider. In some cases,
forward-looking statements may be identified by terminology such as
“believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,”
“should,” “plan,” “expect,” “predict,” “potential” or the negative of
these terms or other similar expressions. Such statements involve
a number of known and unknown risks and uncertainties that could cause
the Company’s future results, performance or achievements to differ
significantly from the results, performance or achievements expressed or
implied by such forward-looking statements. Important factors that could
cause or contribute to such differences include risks relating to the
Company’s ability to incorporate Vaultive’s technology into its
solutions; and the willingness of the Company’s customers to purchase
solutions targeted at SaaS, and IaaS and PaaS applications. In
addition, important factors that could cause or contribute to such
differences with respect to the Company’s include risks relating to
changes in the rapidly evolving cyber threat landscape; real or
perceived shortcomings, defects or vulnerabilities in the Company’s
solutions or internal network system, or the failure of the
Company’s customers or channel partners to correctly implement the
Company’s solutions; fluctuations in quarterly results of operations,
including due to our failure to close significant sales before the end
of a particular quarter; the inability to acquire new customers or sell
additional products and services to existing customers; competition from
IT security vendors; the reputational impact of any compromise to our
internal IT network system; failure to effectively manage growth; the
Company’s failure to effectively expand, train and retain our sales and
marketing personnel; reliance on channel partners; failure to anticipate
market needs and enhance the Company’s existing products or develop or
acquire new products; the Company’s ability to successfully integrate
recent and or future acquisitions; and other factors discussed under the
heading “Risk Factors” in the Company’s most recent annual report on
Form 20-F filed with the Securities and Exchange Commission.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions contained in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are made only as of the
date hereof, and the Company undertakes no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Copyright © 2018 CyberArk Software. All Rights Reserved. All
other brand names, product names, or trademarks belong to their
respective holders.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180312005485/en/
Source: CyberArk Software
Media Relations:
fama PR
Brian Merrill, +1-617-986-5005
cyberark@famapr.com
or
CyberArk
Liz
Campbell, +1-617-558-2191
press@cyberark.com
or
Investor
Relations:
CyberArk
Erica Smith, +1 617-630-6426
ir@cyberark.com