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CyberArk Buys Conjur DevOps Security Software for $42 Million

CyberArk, a company that specializes in privileged account security solutions, has acquired a development and operations (DevOps) security software provider.

The company this month purchased Conjur, which offers orchestration software for auditing, enforcing and managing mission-critical application and infrastructure security functions in IT environments, for $42 million in cash.

With Conjur, CyberArk can deliver an “enterprise-class, automated account security and secrets management solution to secure the DevOps lifecycle and cloud-native environments,” CyberArk said in a prepared statement.

The Conjur acquisition enables chief information officers (CIOs) and chief information security officers (CISOs) to speed up software deployment, according to CyberArk.

It also empowers CyberArk customers to “embrace DevOps without compromising on security,” CyberArk CEO Udi Mokady said.

The CyberArk-Conjur Solution for DevOps is now available. It allows organizations “to embrace cloud and DevOps with maximum confidence … [and] drive digital transformation initiatives while still anchoring security to their core trusted systems of record,” CyberArk stated.

CyberArk was in growth mode even before the M&A deal. In the company’s most recent quarter, revenue was $59 million, up 26 percent from the corresponding quarterly last year. In addition, CyberArk is predicting total revenue of $268.5 million to $271.5 million for full-year 2017, which would represent year-over-year revenue growth of 24 percent to 25 percent.

Additional acquisitions and investments could be coming. “The attack surface continues to expand across on-premises, cloud and hybrid environments as well as DevOps processes,” CyberArk CEO Udi Mokady said earlier this year. “We plan to continue to make strategic investments across the business that will strengthen our position … while we also deliver strong growth and profitability.”

Talent also has been a focus area.

CyberArk this month appointed Marianne Budnik as its chief marketing officer (CMO). Budnik previously served as CMO at SimpliVity, Acme Packet and CA Technologies and held several leadership positions at EMC.

As CyberArk’s CMO, Budnik will manage the global structure, strategy and execution of the business’ marketing efforts, the company noted in a prepared statement.

Moreover, Budnik is expected to help CyberArk drive demand for its privileged account security solutions, the company stated.

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