Netwrix Acquires Concept Searching, Targets Data Security Market
Netwrix, a hybrid cloud security governance and visibility platform provider, has acquired metadata generation and taxonomy management software company Concept Searching for an undisclosed sum. The acquisition comes after Netwrix and Concept Searching announced a security intelligence partnership in February.
Together, Netwrix and Concept Searching will provide an integrated solution to help organizations identify and mitigate data security threats, according to the companies. The acquisition also will allow Netwrix to bolster its customers’ contextual awareness into structured and unstructured data, both on premises and in the cloud.
What Is Concept Searching?
Concept Searching provides conceptClassifier, a platform that offers metadata generation, auto-classification and taxonomy tools.
Organizations can use conceptClassifier to clean up, optimize and organize their content and solve security and information governance issues, Concept Searching indicated. They also can leverage conceptClassifier to enrich and extract meaning from both structured and unstructured data.
Concept Searching will integrate conceptClassifier into the Netwrix Auditor cybersecurity visibility platform, President Martin Garland said. By doing so, Concept Searching will help global organizations address their cybersecurity requirements.
What Does the Concept Searching Acquisition Mean for Netwrix?
The Concept Searching acquisition could help Netwrix further accelerate its sales growth following a successful third quarter of 2018 and capitalize on a rapidly expanding data-centric security sector.
Netwrix recorded 32 percent year-over-year global sales growth in 3Q18. The company added 440 organizations to its customer base during the time frame, too.
Meanwhile, global data-centric security market revenues are projected to increase at a compound annual growth rate (CAGR) of 23.1 percent between 2017 and 2022, according to industry analyst MarketsandMarkets. Also, these market revenues could total $5.8 billion by 2022.
Introducing Netwrix Auditor for Network Devices
In addition to the Concept Searching acquisition, Netwrix in October unveiled Netwrix Auditor for Network Devices as part of its Netwrix Auditor 9.7 release.
Netwrix Auditor for Network Devices helps organizations detect and investigate network security threats, the company stated. It also provides user behavior analysis and risk mitigation capabilities and security intelligence.
Founded in 2006, Netwrix helps IT security and operations teams analyze user behavior, system configurations and sensitive data across hybrid IT infrastructure. The company’s platform today helps more than 10,000 global organizations detect and mitigate cyber threats and comply with data security mandates.
Hybrid cloud security governance & visibility platform provider Netwrix buys metadata generation & taxonomy management software company Concept Searching.