wonderfully unique software solutions

Thycotic merges with Centrify on enterprise identity management

Investment firm TPG Capital has acquired Thycotic from Insight Partners in a deal which merges the privileged access management (PAM) specialist with enterprise identity bridging provider Centrify.

“The explosive growth of cloud services and the interconnection of networks has created an environment where cyber-attacks are increasing in frequency and sophistication,” said Thycotic‘s CEO Jim Legg in an email to customers.

“We believe this combination will allow us to offer an enhanced and diversified security product suite – a comprehensive platform uniquely built to enable and protect the modern hybrid enterprise.”

Legg has been named president with Centrify chief executive Art Gilliland as CEO of the merged organisation.

Tim Millikin, a partner at TPG Capital, said in the official announcement that the merger creates a leader in one of the most important and strategic sub-sectors of security software.

“Identity security is mission-critical to any organisation’s cybersecurity infrastructure and is becoming even more essential in a deeply interconnected world. TPG has long believed that this sector is poised for rapid growth,” he said.

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, according to the announcement.

Thycotic’s cloud-first PAM complements Centrify’s identity bridging capabilities for complex environments. Centrify’s solutions are used by large organisations including financial institutions, intelligence agencies, and critical-infrastructure companies.

TPG Capital acquired a majority stake in Centrify in January from another private equity firm, Thoma Bravo. TPG reports investing some $2 billion of equity into cyber security acquisitions — from Digital.ai and Expanse to McAfee and Zscaler.

Thoma Bravo and Public Sector Pension Investment Board (PSP Investments) are expected to take minority stakes in the merged Thycotic/Centrify business.

Thycotic is holding a PAM webinar on Wednesday 17 March on what’s needed for effective privileged access security — click here to register or learn more.

( Photo by Sincerely Media on Unsplash )

Recent Articles

Monitoring and intrusion detection software could have protected Florida water supply

Data collection and monitoring applications can mitigate -- even prevent -- industrial cyber hacks like the one on the Florida water treatment...

T-Mobile chose Nitro over Acrobat in Austria productivity upgrade

When telecoms company T-Mobile Austria (now Magenta Telekom) sought to streamline workflows and boost productivity across its organisation, it decided to adopt...

Professional relationships can improve via remote working: Miro survey

After a year when more people have been working from home, employees are reporting improved relationships with their partners, amid other findings...

Revenue at JetBrains up 11% in 2020 on back of Asia surge

Developer tools company JetBrains has announced 11% expansion in revenue for the 2020 year, powered by an 85% increase in Chinese sales.

DocuSign bolsters Agreement Cloud with remote e-notarisation

E-documentation specialist DocuSign has unveiled an online application in the US for notarising agreements via an electronic platform -- likely to prove...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Weirdware monthly - Get the latest news in your inbox