Industry-leading identity security combined
with modern IGA sets a new paradigm for compliance and identity
lifecycle management
CyberArk (NASDAQ: CYBR), the global leader in identity security,
today announced it has acquired Zilla Security, a leader in modern
Identity Governance and Administration (IGA) solutions. Zilla’s
innovative, AI-powered IGA capabilities will expand CyberArk’s
industry-leading Identity Security Platform with scalable
automation that enables accelerated identity compliance and
provisioning across digital environments, while maximizing security
and operational efficiency. This acquisition further advances
CyberArk’s strategy to deliver the industry’s most powerful,
comprehensive identity security platform to secure every identity –
human and machine – with the right level of privilege controls.
Under the terms of the agreement, CyberArk has acquired Zilla
Security for an enterprise value of $165 million in cash and a $10
million earn-out tied to the achievement of certain milestones.
In the wake of digital transformation, organizations require
scalable solutions that can seamlessly extend across hybrid
environments. Legacy IGA was built primarily for on-premises
environments, relying heavily on manual processes with slow,
time-consuming deployments that leave organizations stalled and
struggling to realize value from their investments. Modern IGA is
purpose-built for the cloud with AI-driven business processes and
out-of-the-box integrations for visibility across cloud and SaaS
applications, enabling effective governance and lifecycle
management.
In stark contrast to legacy IGA systems, Zilla’s modern IGA SaaS
platform was built from scratch to address today’s digital
environments, characterized by an explosion of SaaS applications,
decentralized management, and identity-based security threats.
Leveraging AI-driven role management, Zilla automates the processes
of identity compliance and provisioning, making governance easy,
intuitive and all-inclusive for the modern enterprise. It offers
the most complete set of integrations for both commonly used and
custom applications and provides fast time to value. Zilla
customers experienced in implementing legacy IGA found that Zilla
can be deployed five times faster; complete access reviews with 80%
less effort; and enable faster provisioning with 60% fewer service
tickets.
“As enterprises navigate the proliferation of privilege in
complex identity landscapes, modern IGA capabilities become
critical for protecting digital assets and maintaining business
agility. By expanding the CyberArk Identity Security Platform with
Zilla’s modern IGA capabilities, we will reshape identity
governance with scalable automation that delivers compliance and
helps maximize security for the modern enterprise,” said Matt
Cohen, Chief Executive Officer, CyberArk. “We’re delighted to
welcome Zilla’s co-founders Deepak Taneja and Nitin Sonawane, along
with their talented team, to CyberArk. Their experience and
expertise in IGA are unparalleled and will be instrumental in
helping us shape the future of modern IGA and identity
security.”
“What worked 20 years ago clearly doesn’t work today,” said
Deepak Taneja, Chief Executive Officer and Co-Founder, Zilla
Security. “Zilla represents a fundamental shift in how
organizations can manage identity governance and administration. By
harnessing the power of AI, we’ve automated IGA, making it simpler,
faster and more cost-effective. And now with CyberArk, we’ll be
offering our breakthrough technology as part of the broader
CyberArk Identity Security Platform, reaching many more customers
on a global level.”
With the addition of Zilla, CyberArk will further expand the
industry’s most comprehensive AI-powered Identity Security Platform
for humans and machines, including:
- Discovery and onboarding of all identities with context and
risk mapping;
- Applying the right level of privilege controls across
entitlement management, session management, credential management
and authentication management; and
- Automated lifecycle management, policy, governance and
compliance.
“Traditional IGA systems have not kept up with the needs of the
modern enterprise,” said Andy Walker, Vice President and General
Manager, Technology Deployment Services, Optiv, a cyber advisory
and solutions leader. “A unified approach to identity security that
incorporates modern IGA capabilities into a single platform will be
a tremendous benefit for CyberArk’s customers. CyberArk’s
acquisition of Zilla will fill a critical gap that exists in the
market today.”
Zilla’s modern IGA capabilities are now available from CyberArk
as standalone offerings, including:
- Zilla Comply: Simplifies user access reviews and evidence
documentation through robust integration and automation that
supports the entire audit process, from app integration to the
evidence package for auditors.
- Zilla Provisioning: Revolutionizes access management with an
AI-driven, automated approach to provisioning tasks such as
onboarding, role transitions and offboarding, while ensuring all
identities receive job-appropriate entitlements and access.
About CyberArk
CyberArk (NASDAQ: CYBR) is the global leader in identity
security, trusted by organizations around the world to secure human
and machine identities in the modern enterprise. CyberArk’s
AI-powered Identity Security Platform applies intelligent privilege
controls to every identity with continuous threat prevention,
detection and response across the identity lifecycle. With
CyberArk, organizations can reduce operational and security risks
by enabling zero trust and least privilege with complete
visibility, empowering all users and identities, including
workforce, IT, developers and machines, to securely access any
resource, located anywhere, from everywhere. Learn more at
cyberark.com.
About Zilla Security
Zilla Security is the leading provider of modern identity
governance and administration (IGA), providing a SaaS platform that
automates the processes of identity compliance and provisioning.
Zilla stands out for its speed to value, offering the most complete
set of application integrations capabilities for both commonly used
and custom applications. Zilla AI Profiles™ eliminates the tedious,
nearly impossible process of creating and maintaining rules that
define roles or groups. Through its automations, Zilla clients are
able to deploy 5X faster, complete access reviews with 80% less
effort, and enable faster provisioning with 60% fewer ITSM tickets.
Zilla provides breakthrough IGA to over 100 customers. Learn more
at zillasecurity.com.
Cautionary Language Concerning Forward-Looking Statements
This release contains forward-looking statements, which express
the current beliefs and expectations of CyberArk’s (the “Company”)
management. 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, levels of activity, performance or achievements to
differ materially from the results, levels of activity, performance
or achievements expressed or implied by such forward-looking
statements. Important factors that could cause or contribute to
such differences include, but are not limited to: risks related to
the Company’s acquisitions of Venafi Holdings, Inc. (“Venafi”) and
Zilla Security Inc. (“Zilla”), including potential impacts on
operating results; challenges in retaining and hiring key personnel
and maintaining business; risks related to the successful
integration of Venafi’s or Zilla’s operations and the ability to
realize anticipated benefits of the combined operations; disruption
of the current plans and operations of the Company and/or Zilla as
a result of the announcement of the transaction, including risks of
cyberattacks; changes to the drivers of the Company’s growth and
the Company’s ability to adapt its solutions to the information
security market changes and demands, including artificial
intelligence (“AI”); the Company’s ability to acquire new customers
and maintain and expand the Company’s revenues from existing
customers; intense competition within the information security
market; real or perceived security vulnerabilities, gaps, or
cybersecurity breaches of the Company, or the Company’s customers’
or partners’ systems, solutions or services; risks related to the
Company’s compliance with privacy, data protection and AI laws and
regulations; the Company’s ability to successfully operate its
business as a subscription company and fluctuation in its quarterly
results of operations; the Company’s reliance on third-party cloud
providers for its operations and software-as-a-service (“SaaS”)
solutions; the Company’s ability to hire, train, retain and
motivate qualified personnel; the Company’s ability to effectively
execute its sales and marketing strategies; the Company’s ability
to find, complete, fully integrate or achieve the expected benefits
of additional strategic acquisitions; the Company’s ability to
maintain successful relationships with channel partners, or if the
Company's channel partners fail to perform; risks related to sales
made to government entities; prolonged economic uncertainties or
downturns; the Company’s history of incurring net losses, the
Company’s ability to generate sufficient revenue to achieve and
sustain profitability and the Company’s ability to generate cash
flow from operating activities; regulatory and geopolitical risks
associated with the Company’s global sales and operations; risks
related to intellectual property claims; fluctuations in currency
exchange rates; the ability of the Company’s products to help
customers achieve and maintain compliance with government
regulations or industry standards; the Company’s ability to protect
its proprietary technology and intellectual property rights; risks
related to using third-party software, such as open-source
software; risks related to stock price volatility or activist
shareholders; any failure to retain the Company’s “foreign private
issuer” status or the risk that the Company may be classified, for
U.S. federal income tax purposes, as a “passive foreign investment
company”; changes in tax laws; the Company’s expectation to not pay
dividends on the Company’s ordinary shares for the foreseeable
future; risks related to the Company’s incorporation and location
in Israel, including wars and other hostilities in the Middle East;
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 U.S. 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, except as required by
applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250213857971/en/
Investor Relations Contact: Srinivas Anantha, CFA CyberArk
617-558-2132 ir@cyberark.com
Media Contact: Rachel Gardner CyberArk +1 (603) 531 7229
press@cyberark.com
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