SailPoint closes Osirium acquisition as Proofpoint enters agreement to buy Tessian

Cyber consolidation: SailPoint closes Osirium acquisition as Proofpoint to buy Tessian

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In an increasing sign of consolidation in the cybersecurity market, SailPoint Technologies Inc. today closed its acquisition of endpoint management, access management and process automation company Osirium Ltd. and Proofpoint announced a deal to acquire enterprise security firm Tessian Ltd.

Sailpoint’s acquisition of Osirium was announced in August, with Sailpoint reportedly paying $8.3 million for the company. Founded in 2008 and listed on the London Stock Exchange, Osirium offers cybersecurity solutions for privileged access management, privileged endpoint management and information technology process automation.

Osirium’s PAM solution provides visibility and control over privileged accounts, accounts that are the most targeted by attackers. The solution connects IT administrators to systems and keeps a full access audit trail of their sessions, helping prevent unauthorized access to privileged accounts and detecting and responding to any suspicious activity.

Osirium’s PEM solution offers a secure way to manage privileged accounts on Windows desktops. The solution helps to reduce the risk of ransomware and other attacks by eliminating the need for users to store privileged passwords on their local machines.

For SailPoint, the acquisition is said to feed into the company’s vision to unify visibility, oversight and protection across all types of access, both regular and highly sensitive, into one solution.

“With Osirium, we’ll deliver a holistic view of regular and sensitive access for our customers, versus requiring them to sort through multiple systems to cobble together a singular view of all types of access at any given time across their organization,” Grady Summers, executive vice president of product at SailPoint, said in a statement. “This will provide immense clarity and real-time control for organizations over what and how all of their identities are accessing data and applications.”

As SailPoint’s acquisition of Osirium closed, Proofpoint announced that it has entered an agreement to acquire Tessian for an undisclosed price.

Founded in 2013, Tessian pitches itself as pioneering a new approach to cybersecurity with “Human Layer Security,” which assumes that some form of human error causes most data breaches. The company’s platform, powered by machine learning, provides visibility into human security risks, automatically preventing security threats while driving employees toward secure email behavior through in-the-moment security training.

Tessian’s platform uses behavioral intelligence models tailored to individual employees by analyzing communication patterns and behaviors online. Machine learning models automatically detect security threats and prevent them from turning into breaches by notifying the employee of the risk. Those alerts are said to help employees improve their security behaviors.

“Our long-standing vision to secure the human layer has been the driving force behind our innovative platform offering inbound email security, as well as outbound data loss prevention,” Tessian Chief Executive Tim Sadler said in a statement. “By joining forces with Proofpoint, we can empower organizations to further improve their email security posture, reduce the risk of data breaches and lighten the workload on their security teams.”

Coming into its acquisition, Tessian had raised approximately $132.7 million from investors, including Okta Ventures LLC, Citi Ventures LLC, Sozo Ventures LLC, March Capital Partners L.P., Balderton Capital LLP, Latitude Venture Partners LLC, Sequoia Capital L.P. and Schroder Adveq AG. Tessian’s solutions are expected to become part of Proofpoint’s offering upon the closing of the acquisition.

Photo: Tessian

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