One Identity has acquired enterprise-focused identity and access management specialist OneLogin.
It’s the latest major instance of M&A activity in the identity security space, with this year having seen similar deals such as Okta’s purchase of Auth0. In the case of One Identity and OneLogin, the companies appear to have synergies beyond their brand names.
As VentureBeat reports, One Identity offers solutions focused on privileged access management, endpoint privilege management, and other IAM applications. OneLogin, meanwhile, is more singularly focused on Single Sign-On solutions, and boasts a wide-ranging authentication platform that includes a One-Time Password app, support for WebAuthn-based biometric authentication, and other authentication factors. It also has a behavioral analytics solution, launched in 2019, aimed at delivering AI-powered risk scoring.
Prior to the acquisition, the companies were already notable entities in the enterprise IAM space. One Identity started out as an arm of Quest Software, a company that was acquired by Dell in a $2.4 billion transaction in 2012, and One Identity was later sold to Francisco Partners and Elliott Management, and finally spun off as its own brand in 2017.
OneLogin, for its part, has been gaining notoriety as an IAM startup competing against the likes of Okta and Ping. The company raised $100 million in a 2019 Series D funding round that brought its valuation to $330 million, and recently signed a distribution agreement with Multipoint Group to promote its solutions in the Middle East and Africa regions.
“By adding OneLogin to our portfolio, and incorporating it into our cloud-first Unified Identity Security Platform, we can help customers holistically correlate all identities, verify everything before granting access to critical assets and provide real-time visibility into suspicious login activity,” explained One Identity President and GM Bhagwat Swaroop in a statement. “With identity at the core, customers can now implement an adaptive zero trust strategy and dramatically improve their overall cybersecurity posture.”
The companies say that their combined business will serve over 10,000 customers and manage 300 million end user identities around the world. Financial terms of the deal have not been disclosed.
Sources: VentureBeat, TechCrunch