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The combination will provide Tenable partners with a 'compelling' cloud security solution.
September 7, 2023
Ermetic offers a cloud-native application protection platform (CNAPP). It also provides cloud infrastructure entitlement management (CIEM). Tenable plans to integrate these capabilities into its Tenable One exposure management platform to deliver contextual risk visibility, prioritization and remediation across infrastructure and identities, both on-premises and in the cloud.
Combining Ermetic’s insights into Tenable One will extend Tenable’s offerings for hybrid environments.
Tenable is buying Ermetic for about $240 million in cash and $25 million in restricted stock and RSUs, subject to customary purchase price adjustments. The acquisition should close early in the fourth quarter, subject to customary closing conditions.
Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.
Tenable’s Glen Pendley
Glen Pendley, Tenable‘s CTO, said after closing, his company expects to enable its partners to sell the capabilities offered by Ermetic.
“The benefit to partners is they have a compelling cloud security solution that address three of the most difficult challenges in cybersecurity today — maintaining security despite the scale and pace of change the cloud presents, managing the risk caused by an explosion in volume of user and machine identities, and understanding the cybersecurity impact of the complex relationships that define the modern attack surface,” he said.
Founded in 2019, Ermetic is a leader in CIEM and identity-centric unified cloud security platform capabilities. The company serves organizations of all sizes, including Fortune 50 companies, to mitigate access risk, secure cloud data, ensure compliance and accelerate organizational security efforts.
In March 2022, Ermetic announced Splunk Ventures as a strategic investor. This followed a $70 million Series B round of financing led by Qumra Capital with support from new investor Forgepoint Capital and participation from existing investors Accel, Glilot Capital Partners, Norwest Venture Partners and Target Global. The company has raised $100 million in funding.
Tenable’s Shai Morag
“As is a fully integrated CNAPP with excellent CEIM capabilities, Ermetic will extend visibility and insight across cloud resources and environments,” Pendley said. “Ermetic’s delivery of in-depth contextual analysis in simple terms and ability to reveal toxic combinations, such as privileged access to publicly-exposed vulnerable workloads, is important context to have when evaluating cyber risk holistically. Context across all cloud and on-premises resources, including workloads, identities and data, is absolutely critical to inform prioritization and sound decision making.”
Shai Morag, CEO and co-founder of the Israeli cybersecurity company, said the combination of Tenable’s exposure management data and Ermetic’s cloud solutions will provide “unprecedented levels of actionable visibility and value.”
“It will remove the complexity that makes managing cloud environments so challenging,” he said. “Tenable’s massive install base of customers will enable us to introduce more organizations to the benefits of context-aware risk prioritization to solve problems before they manifest.”
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