Thycotic Looks to Protect Privileged Accounts from Cyber Attacks
Cybsecurity provider Thycotic has acquired Arellia, a Windows protection software company. Financial terms were not disclosed. Thycotic is backed by venture capital firm Insight Venture Partners.
Thycotic, based in Washington, D.C., develops software that is designed to protect privileged accounts from cybersecurity threats. Arellia, located in Lehi, Utah, makes technology products that are used to safeguard Microsoft Corp.'s (Nasdaq: MSFT) Windows operating system from malware and other breaches. Privileged accounts usually hold sensitive data and information and for the most part can only accessed by users with authorized credentials.
The two companies say it’s an ideal time to join forces because cyber-attacks and other security threats are on the rise. “In today’s world of constant breaches and attacks, organizations need to protect privileged accounts and limit privileges of business and IT users. Too often users are given full administrative privileges with no control over what they can install or run,” says Arellia CEO Michael Sainsbury.
Recent high-profile hacking events have compromised a wide range of websites, including the U.S. Office of Personnel Management, the University of Virginia and the Ashley Madison extramarital dating site.
Mergers & acquisitions recently hosted a webinar on how cybersecurity threats are driving deals. Panelists included: Eric Feldman, chief information officer, the Riverside Co.; Jason Kaufman, head of Chertoff Capital, the Chertoff Group; and Scott Stevens, co-head of IT security, William Blair & Co. View the webinar, sponsored by Citrix ShareFile, here.
In other cybersecurity deals, the Carlyle Group LP (Nasdaq: CG) and the Chertoff Group (founded by former U.S. Homeland Security Secretary Michael Chertoff) are investing in Coalfire Systems; CVC Capital Partners is making a growth equity investment in Kount Inc.; and FireEye Inc. (Nasdaq: FEYE) has acquired iSight Partners.