The combined organization will empower
customers with a best-of-breed, AI-driven security operations
platform fortified with high-integrity data ingestion
In a strategic move set to define the future of the
cybersecurity landscape, Exabeam, delivering industry-leading AI
and automation for accelerated threat detection, investigation, and
response (TDIR), and LogRhythm, renowned for its high-integrity,
trusted data ingestion, today announced the successful completion
of their previously announced merger. The merger combines
unparalleled technological innovation with reliable data to create
an AI-driven security operations platform that delivers the most
efficient and accurate security information and event management
(SIEM) and user and entity behavior analytics (UEBA) solutions in
the industry.
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Moving forward, the company will leverage the best of both
organizations to create a best-of-breed cybersecurity vendor
relentlessly focused on empowering security analysts, security
engineers, and CISOs with the tools, intelligence, and guidance
needed to safeguard their organizations against cyberthreats. The
company will retain the Exabeam name and refresh the visual brand
to represent the merging of two industry leaders and honor the
legacy of the long-established LogRhythm brand.
Exabeam has also unveiled its product roadmap and strategy,
highlighting the proven, cloud-native AI-driven Exabeam Security
Operations Platform that will serve as the foundation of its future
product offerings. On-premises LogRhythm SIEM customers will
benefit from the powerful analytics offered through the Exabeam
platform to combat sophisticated and credential-based attacks. The
company remains committed to quarterly launches to its cloud-native
and on-premises SIEM offerings as demonstrated by LogRhythm since
July 2022. By integrating AI-driven automation with reliable data,
this strategy aims to streamline security operations and accelerate
TDIR, empowering security teams to focus on quickly and effectively
mitigating complex threats.
Leadership Team
The new leadership team, composed of experienced executives from
both companies, will drive Exabeam’s strategic direction and
operational excellence:
Christopher O’Malley – Chief Executive Officer Steve Wilson –
Chief Product Officer Kevin Kirkwood – Chief Information Security
Officer Allwyn “Olly” Lobo – Chief Development Officer
(Cloud-native SIEM) David Rizzo – Chief Development Officer
(Self-managed SIEM) Barry Capoot – Chief Financial Officer Joanne
Wong – Chief Marketing Officer Matt Sarafian – Chief People Officer
Chris Cesio – Chief Revenue Officer Peter Harteveld – Chief Value
Creation Officer
“We are on the brink of a revolutionary shift in cybersecurity.
By merging cutting-edge, AI-driven technology from Exabeam with the
unmatched data integrity of LogRhythm, we are setting a new,
unparalleled standard for security operations,” said O’Malley, CEO
of Exabeam. “Together, our combined expertise, innovation velocity,
and vision will propel AI-driven cybersecurity solutions to new
heights. Unlike the tech conglomerates that have left customers
exposed in the critical battle against cyberattacks, our unwavering
focus remains on empowering the true heroes of security. ”Good
enough” is not enough in the mission-critical matter of security
operations. Today, we are proud to deliver a best-of-breed SIEM and
UEBA experience purposefully and tenaciously focused on customer
success.”
“Our team is stacked with expertise from both organizations that
will accelerate our ability to deliver customer value. The Exabeam
Security Operations Platform offers a comprehensive, foundational
solution adaptable to any business – whether leveraging cloud
infrastructure, adopting a hybrid model, or staying on-premises,”
said Wilson, Chief Product Officer of Exabeam. “By augmenting
LogRhythm SIEM with Exabeam’s New-Scale AI-driven features,
including UEBA and Exabeam Copilot, we will offer incredible new
value to existing LogRhythm customers. New and existing Exabeam
customers alike can look forward to continued innovation as we
optimize our product, training, and service synergies. Together,
our team will continue to address the ever-advancing threats
created by the introduction of AI and empower our customers’
security operations teams to be more efficient and effective."
“We see tremendous opportunity within TDIR, SIEM, and UEBA and
believe that together LogRhythm and Exabeam are better positioned
to capture this growing market by offering their customers the
comprehensive solutions they need to help protect their
organizations from ever-evolving cyberthreats,” said Chip Virnig, a
Partner at Thoma Bravo. “We look forward to Exabeam’s continued
growth and innovation, powered by the combined company’s
differentiated AI-driven security operations platform and loyal
global customer base.”
Supporting Analyst and Customer Quotes:
Dayforce
“Exabeam's cutting-edge technology and customer focus have
fueled the strong, collaborative relationship I have had with
Exabeam over the last ten years,” said Colin Anderson, CISO
Dayforce. “I am excited for Exabeam’s announced merger and look for
this partnership to accelerate the innovative product roadmap and
build on best-in-class service capabilities. Best wishes to Exabeam
as they embark on this new chapter of continued success and
growth."
BECU
“We are incredibly pleased with the value we’ve seen from
Exabeam solutions in securing our data and gaining the necessary
visibility needed to protect our organization. Exabeam has been a
true and trusted partner for BECU,” said Jamie Schademan, Director
Cyber Platform Security. “Congratulations to everyone involved in
the merger and this next phase of growth for the company. We look
forward to continued cybersecurity excellence and innovation from
the Exabeam team."
Enterprise Management Associates
“The merger of Exabeam and LogRhythm will undeniably improve the
security operations landscape. With their combined strengths and
product leadership the new organization is well equipped to tackle
the challenges of modern security operations, offering a robust
defense against sophisticated threats,” said Chris Steffen,
Research Vice President – Information Security, Enterprise
Management Associates. “This merger not only enhances the value
proposition for customers, but also sets the stage for continued
innovation and growth in the cybersecurity market.”
Institute of Chartered Accountants in England and Wales
(ICAEW)
"As a long-time customer of LogRhythm, I've always been
impressed with their commitment to innovation and delivering
reliable security solutions. The merger with Exabeam opens a new
horizon for us. In the accounting and finance sector, where data
integrity and security are critical, we're excited to see how this
new powerhouse will push the boundaries of what’s possible. The
advanced tools from this merger will enhance our security
operations and help us stay ahead of sophisticated cyberthreats,”
said Jason Harris, IT Security Manager at Institute of Chartered
Accountants in England and Wales (ICAEW).
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.
To learn more about the go-forward organization, read the blog
from Exabeam Chief Executive Officer, Christopher O’Malley.
About Exabeam
Exabeam is a global cybersecurity leader that delivers AI-driven
security operations. High-integrity data ingestion, powerful
analytics, and workflow automation power the industry’s most
advanced self-managed and cloud-native security operations platform
for threat detection, investigation, and response (TDIR). With a
history of leadership in SIEM and UEBA, and a legacy rooted in AI,
Exabeam empowers global security teams to combat cyberthreats,
mitigate risk, and streamline security operations. Learn more at
www.exabeam.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240717521059/en/
Kim Diesel PR for Exabeam exabeam@10fold.com