Netwrix, a cybersecurity
vendor that makes data security easy, announced a merger with Stealthbits, a cybersecurity
leader that protects sensitive data and credentials from attackers.
The combined entity will continue to offer its complete portfolio of more than
a half dozen security solutions aimed at identifying and detecting data
security risk as well as protecting, responding and recovering from
cybersecurity attacks. Terms of the transaction were not disclosed.
Fragmented solutions in the data security
market prevent organizations from building comprehensive security strategies to
protect their sensitive and regulated data. To address this challenge, Netwrix
and Stealthbits are joining forces to leverage each other's expertise to
broaden product capabilities and improve user experience. This will enable the
combined organization to offer seven core products spanning all elements of
data and information security, invest in innovation to exceed the expectations
of existing customers and partners, and expand its customer base globally.
With over 500 employees and customers from
more than 50 countries, the combined company will operate as Netwrix with Steve
Dickson continuing to serve as its chief executive officer and on the company's
Board of Directors. Steve Cochran, founder and chairman of Stealthbits, will be
an investor in Netwrix and will serve on its Board of Directors.
"We
couldn't be more thrilled to be merging with the people and products of
Stealthbits. Our combined organization can now offer data security solutions
for any organization anywhere in the world," said Steve Dickson, CEO at
Netwrix.
"Stealthbits
has always been driven to work with our customers to solve their most
challenging credential and data security requirements. Combining our breadth of
products and depth of expertise with that of Netwrix means our customers can
quickly strengthen their security posture and address multiple projects and
requirements through a single provider," said Steve Cochran, founder and
chairman of Stealthbits.
For the
foreseeable future, customers, prospects and partners of each company will
continue to interact with each company as they do today for sales, support and
partner activity. Both Netwrix and Stealthbits are committed to
transparency and will be informing their customers, prospects and partners of
operational changes through this process over the coming months.
For more
information, please visit the integration FAQ at www.netwrix.com/netwrixstealthbitsmerger.