Cybersecurity firms LogRhythm and Exabeam are merging, forging a company that will specialize in AI-driven security ops. Financial terms of the deal were not disclosed.
While details on the structure of the company post-merger have not been provided, the companies said that their customers will benefit from enhanced R&D investments and product innovation. This includes advancements in AI-driven security operations, improved threat detection and response capabilities, and the integration of sophisticated AI and machine learning algorithms to enhance overall cybersecurity defenses.
This is technology M&A deal number 131 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
LogRhythm, founded in 2003, is based in Broomfield, Colorado. The company has 527 employees listed on LinkedIn. LogRhythm’s areas of expertise include SIEM, log management, security intelligence, multi-dimensional behavioral analytics, compliance assurance, event management, artificial intelligence, machine learning, compliance, cloud-based security, cyber security, and cloud-based SIEM.
Exabeam, founded in 2013, is based in Foster City, California. The company has 680 employees listed on LinkedIn. Exabeam’s areas of expertise include SIEM, big data security analytics, user behavior analytics, user behavior intelligence, stateful user tracking, user and entity behavior analytics, UEBA, SOC, cybersecurity, security operations, and TDIR.
About The Merger
The combined company brings together two cybersecurity firms specializing in SIEM and UEBA, both with experience providing threat detection, investigation, and response (TDIR) services.
“Together our expertise and shared strategic vision will accelerate innovative AI-driven cybersecurity solutions for customers around the world,” said Chris O’Malley, CEO of LogRhythm.
“With AI and cloud as driving forces that can’t be ignored in the market, we look forward to collectively addressing the needs of our joint prospects and customers to further enhance their cybersecurity TDIR capabilities,” said Adam Geller, CEO, Exabeam.
The merger is expected to close in the third quarter of 2024 and is subject to regulatory approvals and customary closing conditions. 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.
