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The deal expands the scope of One Identity’s Unified Identity Security service to bring additional focus on access management as well as its existing capabilities around privileged access management (PAM), identity governance and admin (IGA) and Active Directory management and security (ADMS).
On closure, the combined entity will serve about 10,000 customers, between them managing 300 million different identities.
One Identity said it hoped to be better able to address a flood of cyber security incidents caused by mismanaged identities by helping customers to shore up one of the first lines of defence against malicious actors. According to this year’s edition of Verizon’s Data breach investigations report, 70% of breaches have some kind of link to privileged account abuse, and 61% involve “improper” credential management.
“With the proliferation of human and machine identities, the race to the cloud and the rise of remote working, identity is quickly becoming the new edge – and protecting identity in an end-to-end manner has never been more important,” said Bhagwat Swaroop, president and general manager of One Identity.
“By adding OneLogin to our portfolio and incorporating it into our cloud-first Unified Identity Security platform, we can help customers holistically correlate all identities, verify everything before granting access to critical assets and provide real-time visibility into suspicious login activity.
“With identity at the core, customers can now implement an adaptive zero-trust strategy and dramatically improve their overall cyber security posture.”
OneLogin CEO Brad Brooks added: “Joining One Identity provides us with the ability to further accelerate our growth and provide additional value for both of our customer sets.
“With OneLogin’s robust unified platform for both workforce and CIAM, combining forces with One Identity’s suite of products including their PAM solution, will allow new and existing customers, on a global scale, to tap into the market’s only unified identity security platform.”
JP Morgan Securities served as exclusive financial adviser during negotiations.