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Bomgar Acquiring Avecto to Create Leading Privileged Access Management Solution

July 10, 2018

ATLANTA--(BUSINESS WIRE)--Jul 10, 2018--Bomgar, a leader in identity and access management solutions for privileged users, today announced it will acquire Avecto, a global leader in endpoint privilege management. Avecto’s Defendpoint technology combines privilege management and application control, making it easy to protect thousands of endpoints by making admin rights removal simple and scalable. Pairing Avecto with Bomgar’s privileged account and session management technology will enable businesses to fully implement the principle of least privilege and defend themselves against today’s most prevalent threats.

Forrester estimates that 80% of security breaches involve privileged credentials 1. Privileged accounts are coveted targets for attackers and must be protected from both internal and external threats. Bomgar’s solutions protect privileged accounts, passwords, and credentials, while securing the remote access pathways commonly exploited in these attacks. Avecto’s technology adds another layer of defense at the endpoint by allowing organizations to remove excess admin rights, only elevating privileges for approved applications and actions.

The addition of Avecto will also help the thousands of IT admins and support professionals using Bomgar’s Remote Support solutions to securely manage privileged access to desktops and workstations with minimal user interruption.

“With the addition of Avecto, Bomgar now offers one of the most comprehensive PAM platforms for managing and protecting privileged access,” said Matt Dircks, CEO of Bomgar. “Our companies share a passion for developing security solutions that users love because they’re quick to deploy, intuitive, and don’t impede productivity. We’re excited to combine forces with Avecto’s team, customers, and partners to develop new, innovative ways to mitigate the risks of privileged threats.”

According to Gartner, “The privileged access threat landscape is growing with a higher risk of enabling cyberattacks and severe consequences.” Gartner recommends that, “in order to deliver effective privileged IAM capabilities technical professionals should… acquire and deploy commercial PAM solutions to automate foundational capabilities such as privilege credential discovery, protection, session monitoring, privilege elevation and delegation, and audit controls.” 2

The acquisition will result in an integrated PAM offering with market-leading capabilities for:

Privileged Account Auto-Discovery: Reliably discover and secure the widest range of privileged accounts across enterprises. Credential Management & Rotation: Change thousands of privileged passwords across an enterprise in minutes. Privileged Session Management: Securely manage, monitor, and control privileged access sessions. Privileged Elevation and Delegation: Making the removal of admin privileges and whitelisting of trusted applications achievable across all endpoints. Audit and Compliance: Record and track all privilege access across your environment.

“The combination of Avecto’s and Bomgar’s technology will enable companies to quickly and easily automate critical PAM capabilities while also improving end-users’ ability to do their jobs and support the business,” said Mark Austin, co-founder and co-CEO of Avecto. “We’re thrilled to join the Bomgar family and jointly lead the market in developing solutions that address today’s most pervasive and dangerous challenges.”

“It’s exciting to be joining a company that genuinely cares as much as Avecto does about its employees, customers, and partners,” said Paul Kenyon, co-founder and co-CEO of Avecto. “The combination of our teams will not only ensure Avecto’s customers and partners continue to receive the stellar service and support that is a hallmark of our business, but also benefit from the additional solutions and capabilities that Bomgar brings to the table.”

Terms of the transaction, which is expected to close July 31, 2018, will not be disclosed. For more information, please visit www.bomgar.com. Results International acted as exclusive financial adviser to Avecto.

About Bomgar

Bomgar’s secure access solutions enable customers to easily support people, access and protect endpoints, and defend privileged credentials to fight cyber threats and speed business performance. More than 15,000 organizations around the globe use Bomgar to deliver superior support services and reduce threats to valuable data and systems. Bomgar clients include some of the world’s leading IT outsourcers, systems integrators, software vendors, healthcare organizations, government agencies, universities, financial institutions, and retailers. Bomgar is privately held with offices in Atlanta, Jackson, Washington D.C., Frankfurt, London, Paris, and Singapore. Connect with Bomgar at www.bomgar.com, the Bomgar Blog, or on Facebook, Twitter and LinkedIn.

About Avecto

For organizations seeking to prevent breaches without hindering productivity, Avecto Defendpoint combines best-in-class privilege management and application control software, making admin rights removal simple and scalable across desktops and servers to ensure compliance, security, and efficiency.

Since 2008, the company has enabled over 8 million users across the world’s biggest brands and most highly-regulated industries to successfully work from the safety of standard user accounts while enjoying the flexibility of admin accounts.

1 Forrester Research, “The Forrester Wave™: Privileged Identity Management, Q3 2016”, Andras Cser, July 8, 2016

2 Gartner, Inc., “Architecting Privileged Access Management for Cyber Defense”, Homan Farahmand, March 12, 2018

View source version on businesswire.com:https://www.businesswire.com/news/home/20180710005497/en/

CONTACT: Bomgar Contact:

Kevin Franks

Marketing Communications Manager

+1 (512) 599-8251

kfranks@bomgar.com

or

Avecto Contact:

Laura Butler

Head of Communications

+44 (0)845 519 0114

Laura.Butler@avecto.com

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INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS DATA MANAGEMENT HARDWARE INTERNET NETWORKS SOFTWARE OTHER TECHNOLOGY SECURITY MOBILE/WIRELESS

SOURCE: Bomgar

Copyright Business Wire 2018.

PUB: 07/10/2018 09:00 AM/DISC: 07/10/2018 09:01 AM

http://www.businesswire.com/news/home/20180710005497/en

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