Pathlock, the leading provider of access governance solutions for business applications, today announced a merger with Appsian, the leading provider of ERP data security solutions, and Security Weaver, the leading provider of governance, risk and compliance management (GRCM) software for SAP. In addition to the mergers, the newly combined company, Pathlock, is announcing the acquisition of CSI Tools, a Belgium-based GRCM provider, and Germany-based SAST SOLUTIONS, a holistic solution provider for hardening SAP environments.
“Traditionally, organizations are auditing the controls for their applications and data with a patchwork of manual processes, disparate software tools, and consulting and services organizations. The combined company from this series of mergers and acquisitions creates a first-of-its-kind, unified, 360-degree platform. Now, organizations can automate their controls across their business applications and mitigate risk in real-time. It is a simplified way for enterprises to protect their data in the face of digital transformation and the cloud era. I am honored to be leading the charge on this endeavor,” said Piyush Pandey, former CEO of Appsian and new CEO of Pathlock.
As a part of these transactions, Pathlock is also announcing a $200M capital raise led by Vertica Capital Partners. This investment will allow Pathlock to further expand its Application Governance and Data Security capabilities, successfully addressing the surge in demand for governance and protection of cloud and on-premise business applications, and the data within them. The company’s offerings are going deeper and wider than ever before by providing a single unified platform to implement, enforce, and manage GRC controls across enterprise applications.
“We are thrilled to see these major players in the industry come together to create a global leader in the Application Governance, Risk, and Compliance space," said Philip Vorobeychik, Managing Director, Vertica Capital Partners. “The combined company, Pathlock, will now offer the most robust library of productized controls for business applications on the market today,” added Vitaly Vorobeychik, Managing Director, Vertica Capital Partners.
“As we’ve detailed in our most recent Leadership Compass report on Access Control Solutions for SAP and other business applications, Pathlock is a key player in the Access Control market. Their latest M&A activity is reshaping this market,” said Martin Kuppinger, Founder and Principal Analyst, KuppingerCole. “One of Pathlock’s strongest capabilities is their broad support for business applications beyond the SAP ecosystem, with a coverage of over 140 applications. By combining their expertise with these four industry players, Pathlock is on its way to becoming a powerhouse in the application access governance space.”
The combined company is now servicing over 1,200 customers across all major industries and will double in size in terms of employees. Additionally, the new company brings with it a global reach and international customer presence with offices across the United States, Belgium, the UK, Germany, Israel and India.
For further details on the company’s go-forward strategy and integration plans, please join our webcast scheduled for May 24th at 8am Pacific, 11am Eastern. You can register here: www.pathlock.com/merger-announcement
Raymond James acted as the exclusive financial advisor to Appsian Security. KPMG Investment Banking (dba as KPMG Corporate Finance) acted as the exclusive investment banking advisor to Security Weaver. Hampleton Partners acted as the exclusive financial advisor to Akquinet Enterprise Solutions GmbH (SAST).
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