CyberArk announced that it has set to acquire Venafi for $1.54 billion from Thoma Bravo, which bought it in 2020.
CyberArk provides software that allows workers to securely access their companies’ business applications. It offers tools for verifying employee login requests, as well as an application that companies can use to scan staffers’ devices for malware.
Venafi offers a collection of software products that companies can use to implement public key cryptography. The most ubiquitous implementation of public key cryptography is the TLS/SSL certification. It’s a file that browsers use to check a website isn’t malicious before establishing a connection. Without a TLS certificate, users can’t connect to online applications.
A website’s TLS certificate expires a few weeks or months after it’s created. If a company doesn’t replace it in time, the website becomes inaccessible to users. Venafi provides a cloud service that helps avoid such outages by automatically notifying administrators when TLS certificates are about to expire.
Venafi provides products that promise to ease those tasks. Its CodeSign Protect and SSH Protect tools help companies shield their developers’ code from tempering attempts and secure SSH connections, respectively. A third product, TLS Protect for Kubernetes, can be used to secure the network connections that link together an organization’s Kubernetes workloads.
CyberArk expects to close the acquisition in the second half of 2024.
