The combined company will bring together two cybersecurity SIEM and UEBA innovation leaders with renowned and demonstrated track records in serving customers with effective threat detection, investigation, and response (TDIR)
BROOMFIELD, Colo. & FOSTER CITY, Calif.–(BUSINESS WIRE)–LogRhythm, the company helping security teams stop breaches by turning disconnected data and signals into trustworthy insights, and Exabeam, a global cybersecurity leader that delivers AI-driven security operations, today announced that the companies have entered into a merger agreement. The combined company will leverage the complementary strengths from each organization to take AI-driven security operations to new heights.
“Together our expertise and shared strategic vision will accelerate innovative AI-driven cybersecurity solutions for customers around the world,” said Chris O’Malley, CEO of LogRhythm. “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 organization 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.”
Customers will benefit from enhanced R&D investments and product innovation, greater service and support coverage and access to a larger AI-driven product portfolio, including cloud-native and on-premises options.
“As a combined organization, 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,” said Adam Geller, CEO, Exabeam. “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.”
The merger is expected to close in the third quarter of 2024 and is subject to regulatory approvals and customary closing conditions. J.P. Morgan Securities LLC acted as exclusive financial advisor and Goodwin Procter LLP acted as legal advisor to Exabeam on the transaction. Kirkland & Ellis LLP acted as legal advisor to LogRhythm on the transaction.
About LogRhythm
LogRhythm helps security teams stop breaches by turning disconnected data and signals into trustworthy insights. From connecting the dots across diverse log and threat intelligence sources to using sophisticated machine learning that spots suspicious anomalies in network traffic and user behavior, LogRhythm accurately pinpoints cyberthreats and empowers professionals to respond with speed and efficiency.
With cloud-native and self-hosted deployment flexibility, out-of-the-box integrations, and advisory services, LogRhythm makes it easy to realize value quickly and adapt to an ever-evolving threat landscape. Together, LogRhythm and our customers confidently monitor, detect, investigate, and respond to cyberattacks. Learn more at logrhythm.com.
About Exabeam
Exabeam is a global cybersecurity leader that delivers AI-driven security operations. The company was the first to put AI and machine learning in its products to deliver behavioral analytics on top of security information and event management (SIEM). Today, the Exabeam Security Operations Platform includes cloud-scale security log management and SIEM, powerful behavioral analytics, and automated threat detection, investigation and response (TDIR). Its cloud-native product portfolio helps organizations detect threats, defend against cyberattacks, and defeat adversaries. Exabeam learns normal behavior and automatically detects risky or suspicious activity so security teams can take action for faster, more complete responses and repeatable security outcomes.
Detect. Defend. Defeat.™ Learn how at www.exabeam.com.
Contacts
Kim Diesel
10Fold for LogRhythm
logrhythm@10fold.com
Alyssa Pallotti
Touchdown for Exabeam
exabeam@touchdownpr.com
