American cybersecurity companies Netwrix and Stealthbits Technologies, Inc. introduced currently that they will be merging.
The put together entity will operate as Netwrix, with Steve Dickson continuing to provide as its chief executive officer and on the company’s Board of Directors. Steve Cochran, founder and chairman of Stealthbits, will be an investor in Netwrix and will also provide on the new entity’s Board.
Phrases of the transaction were being not disclosed.
Netwrix has scooped up around 150 market awards because it was started in 2006. The new incarnation of the business will use more than 500 people today and provide buyers in additional than 50 countries.
“We couldn’t be a lot more thrilled to be merging with the people today and merchandise of Stealthbits,” mentioned Dickson.
“Our mixed business can now present knowledge security solutions for any group any place in the planet.”
The merged entity will continue on to give Netwrix’s comprehensive portfolio of about 50 percent a dozen security alternatives aimed at figuring out and detecting info security risk as properly as shielding from, responding to, and recovering from cybersecurity attacks.
Cochran explained that the merger will give Stealthbits’ customers obtain to a just one-cease store for all their facts safety and cybersecurity wants.
“Stealthbits has always been pushed to do the job with our clients to solve their most demanding credential and data security requirements,” mentioned Cochran.
“Combining our breadth of items and depth of know-how with that of Netwrix signifies our buyers can promptly reinforce their security posture and tackle various projects and needs by means of a one company.”
A press release announcing the merger stated that it would communicate to the problem of fragmented methods in the details security market place protecting against companies from setting up comprehensive security strategies to safeguard delicate and controlled information.
“To tackle this challenge, Netwrix and Stealthbits are becoming a member of forces to leverage every single other’s abilities to broaden products abilities and improve person working experience,” mentioned the launch.
Stealthbits was founded by Cochran in 2001. The cybersecurity computer software company’s concentration is on preserving an organization’s sensitive information and the qualifications attackers use to steal that knowledge.
Final year the business won the Most effective Cybersecurity Firm and Most effective Privileged Access Management Item categories in the Cybersecurity Excellence Gold Awards.
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