The mixed firm will carry collectively two cybersecurity SIEM and UEBA innovation leaders with famend and demonstrated monitor data in serving clients with efficient menace detection, investigation, and response (TDIR)
LogRhythm, the corporate serving to safety groups cease breaches by turning disconnected information and indicators into reliable insights, and Exabeam, a world cybersecurity chief that delivers AI-driven safety operations, right now introduced that the businesses have entered right into a merger settlement. The mixed firm will leverage the complementary strengths from every group to take AI-driven safety operations to new heights.
“Collectively our experience and shared strategic imaginative and prescient will speed up revolutionary AI-driven cybersecurity options for patrons around the globe,” mentioned Chris O’Malley, CEO of LogRhythm. “With greater than twenty years of best-in-class SIEM and UEBA expertise in serving 1000’s of worldwide clients, we’re poised to create a brand new employee- impressed group that encapsulates the very best of what we each supply. Vigilant CISOs have eagerly awaited the emergence of a robust, customer-obsessed, singularly- targeted world chief in AI-driven safety operations—one that gives a best-of-breed different to the frustratingly advanced choices available on the market right now. That day has arrived.”
Prospects will profit from enhanced R&D investments and product innovation, larger service and help protection and entry to a bigger AI-driven product portfolio, together with cloud-native and on-premises choices.
“As a mixed group, we’ll proceed to push the envelope of safety operations innovation with options that carry AI, automation, SIEM, safety analytics, and UEBA collectively to ship a holistic method to combating cyberthreats,” mentioned Adam Geller, CEO, Exabeam. “With AI and cloud as driving forces that may’t be ignored available in the market, we look ahead to collectively addressing the wants of our joint prospects and clients to additional improve their cybersecurity TDIR capabilities. We’re proud to be named a Chief within the 2024 Gartner® Magic QuadrantTM for SIEM for the fifth straight time and to supply all that’s now potential by way of efficacy, worth, pace, and scale.”
The merger is anticipated to shut within the third quarter of 2024 and is topic to regulatory approvals and customary closing circumstances. J.P. Morgan Securities LLC acted as unique monetary advisor and Goodwin Procter LLP acted as authorized advisor to Exabeam on the transaction. Kirkland & Ellis LLP acted as authorized advisor to LogRhythm on the transaction.
About LogRhythm
LogRhythm helps safety groups cease breaches by turning disconnected information and indicators into reliable insights. From connecting the dots throughout various log and menace intelligence sources to utilizing subtle machine studying that spots suspicious anomalies in community visitors and person conduct, LogRhythm precisely pinpoints cyberthreats and empowers professionals to reply with pace and effectivity.
With cloud-native and self-hosted deployment flexibility, out-of-the-box integrations, and advisory providers, LogRhythm makes it simple to understand worth rapidly and adapt to an ever- evolving menace panorama. Collectively, LogRhythm and our clients confidently monitor, detect, examine, and reply to cyberattacks. Study extra at logrhythm.com.
