Private equity firm C5 Capital has sold cyber security intelligence provider Balabit to One Identity, part of security software firm Quest Software.
Balabit was launched in 2000 and provides a range of cyber security measures to help businesses reduce the risk of data breaches associated with privileged accounts.
Its privileged access management (PAM) solution provides protection from threats posed by high-risk, privileged accounts, while its privileged account analytics solution provides an additional layer of protection by collecting and analysing data from privileged sessions to help identify anomalous activity.
C5 Capital backed Hungary-based Balabit in 2014 and since then its worldwide sales have more than doubled as the company has grown from a regional, European cyber security software provider to a global leader in privileged access management, with a strong foothold in the US market.
John Milburn, president and general manager of One Identity, said: “Today’s announcement reinforces One Identity’s continued commitment to investing in technology and the business in order to drive innovation, and creates more value for our customers and partners. With the addition of Balabit, we ensure that we can continue to deliver best-of-breed privileged session management and privileged account analytics capabilities to our customers and partners, and do so within the context of a modern, PAM solution that combines the best of One Identity and Balabit technology.”
Zoltan Gyorko, CEO of Balabit, added: “We’re excited to join the One Identity family and add our technology and expertise to One Identity’s rapidly growing portfolio of IAM solutions. With today’s announcement, Balabit’s customers, prospects and partners will be able to enjoy our market-leading PAM tools within the broader stack of first-class PAM and IAM solutions in the One Identity portfolio. Together with One Identity, we can create new opportunities for our customers and partners to stay ahead of dangerous internal and external security threats.”