US intelligent identity and access security company BeyondTrust today announced a definitive agreement to acquire Israeli just-in-time access security company Entitle. No financial details were disclosed but sources close to the deal say that BeyondTrust will pay nearly $150 million.
Tel Aviv-based BeyondTrust was founded by CEO Ron Nissim and CTO Avi Zetser, veterans of the IDF 8200 intelligence unit. The company raised $15 million last year in a round led by Glilot Capital Partners - giving investors a tenfold return on their investment. The company has developed a privilege management solution that discovers, manages, and automates just-in-time (JIT) access and modern identity governance and administration (IGA) across the entire cloud estate.
Nissim said, "Entitle’s JIT access and cloud permissions management solution is an emerging leader in the identity security market. This acquisition allows Entitle to continue to grow through BeyondTrust’s years of expertise and dominance in the PAM market - offering significant opportunities for Entitle’s team."
BeyondTrust said that these capabilities enhance a customer’s ability to provision user access to sensitive data and cloud resources on a time-bounded and "as-needed" basis. While regulations and industry best practices are moving towards zero-standing privileges, companies have struggled to implement JIT with existing tools, particularly in cloud and hybrid environments. Entitle solves this issue with its automated provisioning workflows, self-serve access requests, and over 150 integrations across IaaS/PaaS platforms and SaaS apps.
The acquisition will expand BeyondTrust's products beyond traditional privileged access management (PAM) to encompass dynamic, just-in-time access management across cloud, SaaS, and on-premises environments.
BeyondTrust CEO Janine Seebeck said, "The BeyondTrust acquisition of Entitle signifies a crucial evolution in our fight to ensure customers can protect all paths to privileges, focusing on identity-first security across all IT environments. Adopting a unified, orchestrated approach that incorporates dynamic, just-in-time access is critical for safeguarding our customers' ever-changing paths to privilege. This strategy not only reduces operational friction but also enhances the security of the entire identity infrastructure more effectively."
Published by Globes, Israel business news - en.globes.co.il - on April 16, 2024.
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