Purchase gives IT management specialist added firepower in identity governance, penetration testing, threat detection, and vulnerability management
IT management specialist HelpSystems on Wednesday bolstered its growing cybersecurity portfolio with the purchase of the Core Security assets from identity management vendor SecureAuth. Terms of the deal were not disclosed.
The Lowdown: The purchase gives Eden Prairie, Minnesota-based HelpSystems, known mostly for its IT monitoring and management tools, a handful of new capabilities in identity governance and administration, penetration testing, threat detection, and vulnerability management. The company looks to add those offerings to its current security line-up, which includes antivirus, security policy management, and intrusion detection and prevention.
Meanwhile, the deal lets SecureAuth fix its focus on its core competency in the white-hot but competitive IDAM market where its access management, multi-factor authentication, and single sign-on offerings compete with the likes of Okta, Ping, Centrify, OneLogin, Duo Security, and others.
The Details: The purchase of Core Security, formerly known as Courion, adds about 900 customers and 115 employees from SecureAuth’s Atlanta facility to HelpSystems’ rolls. The company has been steadily beefing up its menu of security and governance offerings with the goal of delivering a holistic platform for infrastructure monitoring, operations management, security policy enforcement, and regulatory compliance auditing.
Background: A private company founded in 1982, HelpSystems has more than 16,000 enterprise users in 100 countries of its core IT infrastructure monitoring and operations management tools.
The company’s bill of fare also includes a roster of security solutions, governance and regulatory compliance auditing tools, a business intelligence platform, and a collection of document management solutions. With 25 offices worldwide, its customers include Wells Fargo, FedEx, Coca Cola, Nationwide, Staples, and IBM.
HelpSystems was sold last year to private equity firm HGGC for $1.1 billion. The vendor sells both direct and through the channel and has about 150 partners in its four-tier partner program.
The Buzz: “We’ve learned that many companies simply lack the resources and solutions needed to safeguard their corporate assets properly at all times,” said HelpSystems CEO Chris Heim. “We’re now in a better position to fully support their initiatives across any platform with a multi-pronged approach to cybersecurity that gives busy IT/security professionals peace of mind.”
“We are pleased to welcome the members of SecureAuth’s Core Security team who have shepherded these products through development, sales, and support over the years,” said Dan Mayleben, CFO of HelpSystems. “Their expertise will bolster the existing HelpSystems cybersecurity team as they continue to enhance these proven solutions and enable global customers to solve their cybersecurity challenges.”
“HelpSystems has a strong portfolio and an excellent culture. We believe they have a tremendous opportunity to continue to develop security operations while also executing on customer commitments. Together, we will ensure a quick and smooth transition for customers, partners, and employees,” said Ahmed Rubaie, executive chairman and CEO of SecureAuth in Irvine, California. “With this transaction, SecureAuth is now solely focused on innovating our identity and access management platform as we head to the cloud with select embedded governance features.”