One Identity, a Quest Software business, helping organizations get identity and access management right, today announced the acquisition of Balabit, a leading provider of privileged access management, account analytics and log management solutions that help businesses reduce the risk of data breaches associated with privileged accounts. The amount of the deal has not been disclosed.
Currently, Balabit’s session management technology is embedded into the recently announced One Identity Safeguard solution through an OEM partnership. With this acquisition, One Identity can further expand its PAM solutions with machine learning-driven, privileged account analytics, which are critical to building a complete stack. The acquisition also enables One Identity to control future development of Balabit technology to create an even more powerful solutions.
Balabit was founded in 2000 by Zoltán Györkő (CEO), Balázs Scheidler (CTO) and 4 other individuals, with an equity capital of 5 million HUF (today equals to 16.250 EUR), and since then, has developed a proven track record that includes 25 Fortune 100 customers and more than 1.000.000 corporate users worldwide and has achieved an over 30% yearly growth rate. The company is headquartered in Budapest, Hungary, and operates globally with offices across the United States and Europe, together with a network of reseller partners.
In 2014 Balabit raised $8M Series A round to fuel its international expansion in North America and additional European markets including the UK and Scandinavia. The cash was raised from London based C5 Capital, Europe’s first dedicated investor in the security and data sector.