OWI’s Friday Deal Book provides you with a weekly roundup of partnerships, funding, and product announcements in the identity industry. This week, we kick off 2018 after the dealmaking took a break for the holiday season. Here’s a quick peek at what you need to know for the week ending Jan. 5, 2018.
KPMG to buy ID and access management business of Cyberinc
Cyberinc supplies cybersecurity solutions across the world, and will sell its identity and management business to KPMG LLP for an undisclosed sum. Prior to the acquisition, Cyberinc was the largest independent IAM technology provider in the world. The deal will bolster KPMG in information security consulting services, expanding its ability to provide clients with new IAM solutions.
“Cyber security remains a top risk to organizations as threats grow in scale and cyber criminals develop new ways to access protected information,” KPMG U.S. Chairman and CEO Lynne Doughtie said. “KPMG’s identity and access management solutions team can assist clients, across all industries, protect their information and enable their digital strategies and growth plans.”
KPMG hopes the deal will aid it in the digital consumer identity and privileged user management markets.
“Over the last decade, Cyberinc’s IAM business has risen to industry leadership position on the strength of some of the largest IAM deployments globally, investments in IP and an array of premium partnerships. I am very pleased that Cyberinc’s truly world class team will continue this journey with KPMG,” Cyberinc Chief Executive Samir Shah said. “Cyber threats continue to accelerate and remain a top business risk. This transaction will allow us to sharply focus on Isla – our industry leading malware isolation platform.” [Read more]