LogRhythm and Exabeam, two vanguards in AI-driven security operations, have declared a definitive merger agreement. This strategic fusion is set to redefine the landscape of security operations with advanced AI capabilities.
Chris O’Malley, CEO of LogRhythm, expressed enthusiasm about the merger, stating, “This union marks the dawn of a new era for AI-driven cybersecurity solutions globally. Our combined twenty-plus years of SIEM and UEBA expertise will birth an organization that truly represents the pinnacle of what we both bring to the table. We’re answering the call for a robust, customer-centric global leader in AI-driven security operations.”
The merger promises to deliver substantial benefits to customers, including intensified R&D efforts, innovative product development, and a broader spectrum of AI-driven solutions encompassing both cloud-native and on-premises platforms.
Adam Geller, CEO of Exabeam, highlighted the merger’s focus on innovation, “We’re poised to continue our trailblazing path in security operations, integrating AI, automation, SIEM, security analytics, and UEBA to combat cyberthreats more effectively. With AI and cloud technologies at the forefront, we’re committed to enhancing our cybersecurity TDIR capabilities for our clients.”
The merger, slated for completion in Q3 of 2024, awaits regulatory consent and standard closing prerequisites. J.P. Morgan Securities LLC served as the exclusive financial advisor, with Goodwin Procter LLP and Kirkland & Ellis LLP providing legal counsel to Exabeam and LogRhythm, respectively.
The cybersecurity community watches with anticipation as these two giants join forces to elevate AI-driven security operations to unprecedented levels.