The The Transform Technology Summits begin October 13 with Low-Code / No Code: Enabling Enterprise Agility. Register now!
One Identity, an identity and access management (IAM) company owned by Quest Software, has acquired competing IAM platform OneLogin. Terms of the contract are not disclosed.
The acquisition follows a wave of activity in the IAM space, with Okta recently completing its $ 6.5 billion Auth0 acquisition, while last week Ping Identity grabbed the platform of identity and security orchestration without Singular Key code. Add to that a slew of venture capital investments in the identity management space, and it’s clear that there is a great appetite for technology that can protect the digital data of corporate employees and customers.
The global IAM market was valued at â12.3 billion industries in 2020, according to some reports, and is expected to approximately double in size within four years. With businesses across the spectrum increasing their IT spend in the cloud as part of ongoing digital transformation efforts and remote working becoming the new normal, this creates an increased need to invest in security. For businesses, managing the online identities of their workforce is a key part of this transition.
Two becomes one
Founded in San Francisco in 2009, OneLogin markets a host of identity products covering single sign-on, multi-factor authentication (MFA), user provisioning, and more. The company had raised some $ 175 million since its inception and claimed reputable customers, including Airbus.
The path One Identity has taken to get to where it is today is a bit of a twisty one. The roots of its parent company Quest Software can be traced back to 1987, and Dell eventually acquired the Aliso Viejo, Calif., Based company in 2012 for $ 2.4 billion, in an effort to expand the focus of software from Dell company to systems management, security, data protection and more – one of these products included One Identity. Dell sold its software business four years later to Francisco Partners and Elliott Management, and One Identity then morphed into its own independent brand in 2017.
One Identity offers a range of identity-focused security products covering Privileged Access Management (PAM), Endpoint Privilege Management (EPM), Identity Governance and Administration (IGA), logs, management and security of active directories (ADMS), etc. While One Identity is already touting its IAM capabilities, boosting its identity intelligence with OneLogin’s cloud-native IAM offering will help One Identity market itself as a ‘holistic’ identity security solution, spanning PAM, IGA, ADMS and IAM.
âWith the proliferation of human and machine identities, the cloud race and the rise of remote working, identity is quickly becoming the new advantage – and end-to-end identity protection has never been more important One Identity Chairman and CEO Bhagwat Swaroop said in a press release. âBy adding OneLogin to our portfolio and incorporating it into our first unified cloud-based identity security platform, we can help customers holistically correlate all identities, verify everything before granting it. ‘access critical assets and provide real-time visibility into suspicious connection activity. “
Although the terms of the deal were not disclosed, a Moody’s report last month indicated that Seahawk Holdings Limited, a business entity representing Francisco Partners and a subsidiary of Elliot Management planned to “raise a fungible top-up of $ 330. million dollars âto support the acquisition of OneLogin. .
VentureBeat’s mission is to be a digital public place for technical decision-makers to learn about transformative technology and conduct transactions. Our site provides essential information on data technologies and strategies to guide you in managing your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the topics that interest you
- our newsletters
- Closed thought leader content and discounted access to our popular events, such as Transform 2021: Learn more
- networking features, and more
Become a member