LogRhythm and Exabeam, a global provider of AI-based cybersecurity solutions, announced that the companies have entered into a merger agreement. The combined company will leverage the complementary strengths of each organization to propel AI-enabled security operations to new heights.
Customers will benefit from enhanced R&D investments and product innovations, greater service and support coverage, and access to a broader AI-powered product portfolio, including cloud options native and on-premises.
The merger is expected to close in the third quarter of 2024 and is subject to regulatory approvals and customary closing conditions. JP Morgan Securities LLC acted as exclusive financial advisor and Goodwin Procter LLP served as legal advisor to Exabeam on the transaction. Kirkland & Ellis LLP acted as legal advisor to LogRhythm in connection with the transaction.
Chris O’Malley, CEO, LogRhythm
Together, our expertise and shared strategic vision will accelerate innovative AI-driven cybersecurity solutions for customers around the world. With over twenty years of best-in-class SIEM and UEBA experience serving thousands of customers worldwide, we are poised to create a new employee-inspired organization that encapsulates the best of what we offer every two. Vigilant CISOs eagerly await the emergence of a strong, customer-obsessed global leader singularly focused on AI-enabled security operations – one that offers the best alternative to frustratingly complex options on the market today. This day has arrived.
Adam Geller, CEO, Exabeam
As a combined organization, we will continue to push the boundaries of security operations innovation with solutions that bring together AI, automation, SIEM, security analytics and UEBA to propose a holistic approach to combating cyberthreats. With AI and cloud as compelling driving forces in the market, we look forward to collectively addressing the needs of our joint prospects and customers to further enhance their TDIR cybersecurity capabilities. We are proud to be named a Leader in the 2024 Gartner® Magic Quadrant™ for SIEM for the fifth time in a row and to deliver everything that is now possible in efficiency, value, speed and scalability.
