Data security and information protection companies Netwrix and Stealthbits are merging, and will operate under the Netwrix brand, the businesses confirmed today. Financial terms of the &A deal were not disclosed.
This is M&A deal number two that MSSP Alert and sister site ChannelE2E have covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Netwrix and Stealthbit Merger: Initial Details
Netwrix, backed by private equity firm TA Associates, now has more than 500 employees who serve customers across more than 50 counties, the company says.
For the foreseeable future, customers, prospects and partners of each company will continue to interact with each company as they do today for sales, support and partner activity, Netwrix says. The company did not describe exactly when the sales, support and partner teams would be merged.
Still, an integrated product roadmap is coming into focus. The evidence: Netwrix and Stealthbits published this product roadmap white paper along with an FAQ. The combined product initiatives span risk insight, data classification, data access governance, privileged access management (PAM), real time threat detection, automation and workflows.
Netwrix and Stealthbits Merger: Executive Perspectives
Netwrix CEO Steve Dickson continues to lead the business. Stealthbits founder Steve Cochran is an investor in Netwrix and joins the board of directors, but apparently is not involved in the day-to-day business.
In a prepared statement about the deal, Dickson said:
“We couldn’t be more thrilled to be merging with the people and products of Stealthbits. Our combined organization can now offer data security solutions for any organization anywhere in the world."
“Stealthbits has always been driven to work with our customers to solve their most challenging credential and data security requirements. Combining our breadth of products and depth of expertise with that of Netwrix means our customers can quickly strengthen their security posture and address multiple projects and requirements through a single provider.