One Identity acquires OneLogin to expand its cybersecurity portfolio
One Identity LLC today announced that it has acquired OneLogin Inc., a provider of identity and access management software backed by more than $175 million in funding.
The deal’s financial terms were not disclosed.
One Identity is a unit of Quest Software Inc., a former subsidiary of Dell Technologies Inc. that spun off into an independent company in 2016. One Identity provides a set of widely used software products that enterprises use to manage how workers access information technology assets.
One Identity’s products help secure accounts belonging to administrators and other key employees who have access to sensitive systems. Such accounts are a frequent target of cyberattacks. In the hands of hackers, the login credentials of an administrator with permission to modify the settings of a company’s firewall can potentially lead to a data breach. As a result, the accounts of key staffers require increased cybersecurity, which is the need that One Identity addresses with its products.
The Quest Software subsidiary also competes in several other areas. It provides tools that help companies monitor user accounts and manage deployments of Microsoft Corp.’s Active Directory platform, which is used to regulate which employees can access what applications and how.
Through the newly announced acquisition of OneLogin, One Identity will gain a bigger presence in an adjacent market: identity access management. OneLogin provides products that companies use to manage how employees and customers log into their applications. The startup’s software can be used to perform tasks such as implementing two-factor authentication for a business database.
OneLogin provides more advanced features as well, which will help further expand One Identity’s product portfolio. OneLogin offers a tool that analyzes every attempt to access an application for cybersecurity risks and adjusts the login process accordingly. The startup has a desktop client that enables employees to log into multiple work applications at once. Additionally, it offers developer tools that make integrating its software into a company’s systems easier.
By incorporating OneLogin’s technology into its feature set, One Identity says, it can provide an end-to-end collection of tools for managing employee logins, as well as many related cybersecurity workflows. “With the proliferation of human and machine identities, the race to the cloud and the rise of remote working, identity is quickly becoming the new edge – and protecting identity in an end-to-end manner has never been more important,” said One Identity President and General Manager Bhagwat Swaroop.
Alongside the technology that OneLogin brings to the table, One Identity is absorbing the startup’s installed base. The combined company will have more than 10,000 customers.
The increased scale that the deal gives One Identity could enable the company to compete in more areas against rival Okta Inc., which has also used acquisitions to expand its market presence. Okta earlier this year announced a $6.5 billion deal to buy Auth0 Inc., whose main specialty is managing customer logins to applications.
Image: One Identity
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