LogRhythm, the company that helps security teams stop breaches by turning disconnected data and signals into trustworthy insights, and Exabeam, which delivers AI-driven security operations, have entered into a merger agreement.
The combined company will leverage the complementary strengths from each organisation to take AI-driven security operations to new heights.
Chris O’Malley, CEO of LogRhythm, said that together, the two companies’ expertise and shared strategic vision will accelerate innovative AI-driven cybersecurity solutions for customers around the world.
“With more than 20 years of best-in-class SIEM and UEBA experience in serving thousands of worldwide customers, we are poised to create a new employee-inspired organisation that encapsulates the absolute best of what we both offer,” said O’Malley.
“Vigilant CISOs have eagerly awaited the emergence of a strong, customer-obsessed, singularly-focused global leader in AI-driven security operations—one that offers a best-of-breed alternative to the frustratingly complex options on the market today,” he added. “That day has arrived.”
Customers are expected to benefit from enhanced R&D investments and product innovation, greater service and support coverage and access to a larger AI-driven product portfolio, including cloud-native and on-premises options.
“As a combined organisation, we will continue to push the envelope of security operations innovation with solutions that bring AI, automation, SIEM, security analytics, and UEBA together to deliver a holistic approach to combating cyberthreats,” 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.
