C5 Capital, a UK-based fund investing purely in the cybersecurity sector, has marked its first portfolio sale by offloading Balabit to One Identity.
Based in Budapest, Hungary, Balabit is a provider of privileged access management (PAM), privileged account analytics and log management solutions that help businesses reduce the risk of data breaches associated with privileged accounts.
With organizations increasingly looking for ways to prevent cyber-attacks involving privileged accounts, including both insider threats and external attacks, PAM plays claims to provide the tools needed to ensure an organisation is safe.
The company’s PAM solution provides protection from threats posed by high-risk, privileged accounts, while its analytics solution collects and analyses data from privileged sessions to help identify anomalous activity. One Identity, a Quest Software business which helps organisations get identity and access management (IAM), said it has purchased the business for an undisclosed fee.
Balabit’s session management technology is currently embedded into the recently One Identity Safeguard solution through an OEM partnership. However, One Identity said it can further expand its PAM solutions with machine learning-driven, privileged account analytics following the purchase.
John Milburn, president and general manager of One Identity, said: “With the addition of Balabit, we ensure that we can continue to deliver best-of-breed privileged session management and privileged account analytics capabilities to our customers and partners, and do so within the context of a modern, PAM solution that combines the best of One Identity and Balabit technology.”
Few organisations are able to deploy every aspect of a complete IAM solution, including governance, access management, privileged management and identity-as a service, as a single project. By incorporating Balabit’s technology into One Identity’s already modular and integrated portfolio, the company is aiming to help organisations start their IAM journey.
Back in 2014, C5 Capital launched its $125m (£73m) debut fund by investing in BalaBit through a $8m Series A round. The investment firm’s portfolio currently includes hybrid storage platform Reduxio, IT network infrastructure business ITC Secure Networking, identity governance and administration company Omada, and magnetic detection business Metrasens.
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