Exabeam and LogRhythm Complete Merger and Announce New Company Details
The combined organization will empower customers with a best-of-breed,
AI-driven security operations platform fortified with high-integrity data
ingestion
BROOMFIELD, Colo. and FOSTER CITY, Calif. -- July 17, 2024 – 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.
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.