Exabeam & LogRhythm merge to form AI-driven security giant
Exabeam and LogRhythm have announced the successful completion of their merger, which integrates the technological advancements and reliable data of both companies to form an AI-driven security operations platform.
The platform aims to provide efficient and accurate security information and event management (SIEM) and user and entity behaviour analytics (UEBA) solutions.
The new entity will continue under the name Exabeam and will introduce a refreshed visual brand that acknowledges the heritage of LogRhythm. Leadership from both organisations will drive the new strategic direction, with Christopher O'Malley serving as Chief Executive Officer, Steve Wilson as Chief Product Officer, and several other experienced executives in key roles.
O'Malley expressed confidence in the merger, stating, "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." He emphasized that the focus of the combined company will remain on "empowering the true heroes of security" by delivering a robust SIEM and UEBA experience.
The newly combined company has also released its product roadmap, which features the cloud-native AI-driven Exabeam Security Operations Platform. This platform will serve as the foundation for future offerings and is designed to enhance on-premises LogRhythm SIEM with powerful analytics to counter sophisticated and credential-based attacks. Ongoing quarterly updates will aim to integrate AI-driven automation with reliable data, streamlining security operations to enable quick and effective threat detection, investigation, and response.
Wilson highlighted the innovation expected from the combined expertise, noting, "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." He added that the New-Scale AI-driven features, including UEBA and Exabeam Copilot, will bring significant new value to existing LogRhythm customers and continue to drive innovation for both new and existing Exabeam customers.
Chip Virnig, a Partner at Thoma Bravo, remarked on the strategic potential of the merger, stating, "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 organisations from ever-evolving cyberthreats." He expressed optimism for the company's growth and innovation driven by their AI-driven security operations platform and loyal customer base.
Users of Exabeam and LogRhythm have also responded positively to the merger. Colin Anderson, CISO at Dayforce, noted, "Exabeam's cutting-edge technology and customer focus have fuelled the strong, collaborative relationship I have had with Exabeam over the last ten years. 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."
Jason Harris, IT Security Manager at the Institute of Chartered Accountants in England and Wales (ICAEW), said, "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 completion of the merger saw J.P. Morgan Securities LLC serve as the exclusive financial advisor to Exabeam, while Goodwin Procter LLP and Kirkland & Ellis LLP acted as legal advisors for Exabeam and LogRhythm, respectively.
