CyberArk buys software co Viewfinity for $30.5m

Udi Mokady CEO CyberArk

Acquiring Viewfinity enables CyberArk, itself an Israeli company too, to remove administrative privileges from business users.

CyberArk Software Inc.(Nasdaq:CYBR) today announced that it has signed a definitive agreement to acquire privately held Israeli software company company Viewfinity Inc., which provides Windows least privilege management and application control software. The acquisition is for $30.5 million in cash and the deal is expected to close in the fourth quarter of 2015.

Acquiring Viewfinity enables CyberArk, which is itself an Israeli company, to remove administrative privileges from business users, and limit the privileges available to users and applications to only what is needed, allowing only trusted applications to run. This enables organizations to stop the progression of most malware-based attacks at the endpoint, limiting the attackers ability to move beyond their initial point of entry. Viewfinity is headquartered in the US and has its development offices in Beit Dagan near Tel Aviv.

With the acquisition of Viewfinity, CyberArk will offer protection against privileged-based attacks targeting both business and IT users. Viewfinitys integrated least privilege and application control solution, combined with CyberArks credential vaulting will provide a comprehensive endpoint privilege management solution from the established leader in privileged account security.

CyberArk CEO Udi Mokady said, CyberArks acquisition of Viewfinity is another step forward in our strategy to advance the new security layer inside the network that is necessary to protect valuable corporate assets from cyber attacks. Privilege vulnerabilities exist all throughout an organizations IT infrastructure whether deep within the network or on end user devices -- and are exploited in 80-100% of advanced attacks. The addition of Viewfinity to the CyberArk solution extends privileged account security to the beginning stages of the attack cycle decreasing the probability of wider infection and lateral movement.

The Viewfinity solution operates with a single agent on the endpoint that handles privilege management and application control, using a kernel-based architecture that provides deep forensics and detection capabilities. The solution also offers a variety of deployment options, allowing organizations to select the most effective strategy to speed time to value, simplify deployment processes and reduce costs.

Mokady added, Windows privilege management is an important part of a robust privileged account security program and we are seeing increased customer demand for it, driven by both risk and regulatory requirements. By having this technology in-house, our customers will benefit from a single, trusted partner with an integrated solution addressing all of their privileged account security needs."

Viewfinity founder and president Gil Rappaport said, We are excited to become part of CyberArk to help advance the Privileged Account Security Solution as the critical new security layer to protect businesses from the most damaging cyber attacks. With CyberArk, Viewfinitys customers will gain from the companys global presence and support capabilities, continued innovation and coming integration with the CyberArk Shared Technology platform.

Published by Globes [online], Israel business news - www.globes-online.com - on October 7, 2015

Copyright of Globes Publisher Itonut (1983) Ltd. 2015

 
Udi Mokady CEO CyberArk
Udi Mokady CEO CyberArk
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