Bomgar has acquired privileged access management (PAM) solutions provider BeyondTrust for an undisclosed sum, the two companies confirmed Thursday morning. The transaction is expected to close next month.
The the combined company, to be called BeyondTrust, will be led by Bomgar CEO Matt Dircks.
BeyondTrust offers PowerBroker, a PAM platform that protects organizations against cyberattacks across endpoint, server, cloud and network device environments, the company indicated.
PowerBroker includes the following PAM solutions:
- Endpoint Privilege Management: Eliminates excessive user privileges and manages applications across endpoints.
- Enterprise Password Security: Promotes accountability and control over privileged credentials and sessions.
- Server & Infrastructure Privilege Management: Controls and audits access to development and operations (DevOps) and business-critical systems.
BeyondTrust's PAM solutions are used by more than 4,000 customers globally, including more than half of the Fortune 100. Also, BeyondTrust offers a partner program that enables MSSPs and other solution providers to leverage the company's BeyondInsight IT Risk Management Platform for PAM, vulnerability management or both.
What Does the BeyondTrust Acquisition Mean for Bomgar?
The BeyondTrust acquisition highlights the rising demand for privileged access security solutions, Udi Mokady, CEO of privileged account security firm CyberArk, told MSSP Alert. As such, the acquisition could help Bomgar capitalize on a global privileged identity management market that is projected to grow.
Global privileged identity management market revenues are expected to increase at a compound annual growth rate (CAGR) of 32.7 percent between 2016 and 2021, according to industry analyst MarketsandMarkets. These revenues also could surpass $3.7 billion by 2021.
Bomgar Buys Avecto, Lieberman Software
The BeyondTrust addition is Bomgar's third acquisition this year.
Bomgar in July acquired endpoint privilege management firm Avecto. With the Avecto acquisition, IT administrators and support professionals can use Bomgar's Remote Support solution to manage privileged access to desktops and workstations with minimal user interruption, the company stated.
Furthermore, Bomgar in February purchased Lieberman Software, an identity and credential management software provider. Bomgar customers now can use Lieberman's Rapid Enterprise Defense (RED) identity management suite to discover, manage and protect privileged account credentials and identify and neutralize cyberattacks.
Bomgar is a Francisco Partners company that provides PAM solutions designed to safeguard privileged credentials, sessions and endpoints. The company's PAM solutions currently are used by more than 16,000 customers worldwide.