LogRhythm and Exabeam, a global leader in AI-driven security operations, have announced their intention to merge.
The combined entity aims to harness their collective strengths to lead the future of AI-driven security operations.
The primary reason for the merger is to leverage the complementary strengths of both companies and elevate AI-driven security operations to unprecedented levels. Although the exact value of the deal was not disclosed, the merger is set to bring significant enhancements to their service offerings.
LogRhythm focuses on transforming disconnected data and signals into reliable insights, enabling security teams to prevent breaches effectively. With over twenty years of experience in Security Information and Event Management (SIEM) and User and Entity Behavior Analytics (UEBA), LogRhythm serves thousands of customers worldwide. Exabeam, on the other hand, specialises in delivering AI-driven security operations, integrating solutions such as SIEM, security analytics, and UEBA to combat cyber threats comprehensively.
Post-merger, the combined company will benefit from increased investments in research and development and enhanced product innovation. Customers can expect greater service and support coverage and access to an expanded AI-driven product portfolio, including both cloud-native and on-premises solutions.
The merger is anticipated to close in the third quarter of 2024, pending regulatory approvals and customary closing conditions. J.P. Morgan Securities LLC acted as the exclusive financial advisor to Exabeam, with Goodwin Procter LLP as their legal advisor. Kirkland & Ellis LLP provided legal advice to LogRhythm.
LogRhythm CEO Chris O’Malley said, “Together our expertise and shared strategic vision will accelerate innovative AI-driven cybersecurity solutions for customers around the world. With more than twenty years of best-in-class SIEM and UEBA experience in serving thousands of worldwide customers, we are poised to create a new employee-inspired organisation that encapsulates the absolute best of what we both offer. Vigilant CISOs have eagerly awaited the emergence of a strong, customer-obsessed, singularly-focused global leader in AI-driven security operations—one that offers a best-of-breed alternative to the frustratingly complex options on the market today. That day has arrived.”
Exabeam CEO Adam Geller added, “As a combined organisation, we will continue to push the envelope of security operations innovation with solutions that bring AI, automation, SIEM, security analytics, and UEBA together to deliver a holistic approach to combating cyberthreats.
“With AI and cloud as driving forces that can’t be ignored in the market, we look forward to collectively addressing the needs of our joint prospects and customers to further enhance their cybersecurity TDIR capabilities. We are proud to be named a Leader in the 2024 Gartner Magic Quadrant for SIEM for the fifth straight time and to offer all that is now possible in terms of efficacy, value, speed, and scale.”
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