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Identity protection companyCyberArkhasacquiredidentity governance and giving medication ( IGA ) platformZilla Securityin a deal worth up to $ 175 million .
The dealing consists of a $ 165 million cash portion and an additional $ 10 million “ earn - out ” which is collectable upon foregather certain milestones — it can be seen as an incentive for the founding father or other central staff office to hang about through the modulation phase .
establish in 1999 , Boston - based CyberArk specialize inaccess management , includingprivileged access securitywhich helps organization protect sensible data and decisive infrastructure from external ( and home ) threat .
CyberArk has made eight known acquisition previously , the largest by some length being the$1.54 billion it paidfor motorcar identity ship’s company Venafi last class .
Zilla , for its part , is another Boston - ground security company operating in the identity and access management kingdom . But given that it was founded in 2019 , Zilla is a nimbler cloud - native thespian that has been addingmore automationandAI - enabled featuresto the mix , crap it an alluring proffer for a much larger companionship founded in the daylight before SaaS or cloud computing had taken clasp .
“ What worked 20 years ago clearly does n’t figure out today , ” Zilla CEO and co - founder Deepak Taneja say in a statement .
Zilla had raised around $ 19 million since its inception six years ago , with backers including FirstMark , Pillar VC , and Tola Capital .
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Reshaping identity governance
The retentive and little of all this is that CyberArk want to bolster its own products with putz “ purpose - build for the cloud , ” with AI at its core and easy integrations for hybrid- and multi - cloud environments .
“ By expanding the CyberArk Identity Security Platform with Zilla ’s modernistic IGA capabilities , we will reshape identity element establishment with scalable mechanisation that delivers deference and helps maximise security for the modern enterprise , ” CyberArk CEO Matt Cohen bestow in a statement .
That ’s not to say that CyberArk has n’t already been modernizing , though . The company went public on the Nasdaqin 2014 , and its shares currently sit more than 1,000 % up on its IPO Mary Leontyne Price — in the past year alone , its valuation hassurged 41%to more than $ 18 billion . in the beginning today , the company posted itsQ4 resultsthat revealed a year - on - twelvemonth revenue hike of 41 % . Specifically , its subscription tax income in finicky grew by 62 % , with its yearly recur receipts ( ARR ) surpassing the $ 1 billion chump .
As a result of the transaction , CyberArk will offer key Zilla services — include Zilla Comply and Zilla Provisioning — as standalone ware through the CyberArk personal identity security political program . to boot , Zilla ’s co - founders — Deepak Taneja and Nitin Sonawane — and their team will be joining CyberArk .
