Security News > 2021 > March > TPG buys Thycotic, immediately merges it with Centrify to create ~$230m access management monster

TPG buys Thycotic, immediately merges it with Centrify to create ~$230m access management monster
2021-03-03 07:58

Private equity group TPG has acquired security vendor Thycotic and announced it will merge it with another recent acquisition, Centrify.

TPG in January announced its intention to acquire a majority stake in privileged access management vendor Centrify from fellow private equiteer Thoma Bravo.

We can say with certainty that Thycotic will be merged with Centrify because TPG said so in a canned statement.

"The combination of Thycotic and Centrify creates a leader in one of the most important and strategic sub-sectors of security software," said Tim Millikin, a partner at TPG Capital.

Thycotic's annual revenue is thought to be approximately $120m and Centrify about the same, giving the combined companies the chance to muscle up against larger PAM players like BeyondTrust and CyberArk. Centrify CEO Art Gilliland will lead the new company.

TPG has acquired rather a few security companies of late, splashing approximately $2 billion of equity across firms like Digital.


News URL

https://go.theregister.com/feed/www.theregister.com/2021/03/03/tpg_buys_centrify_then_turns/

Related vendor

VENDOR LAST 12M #/PRODUCTS LOW MEDIUM HIGH CRITICAL TOTAL VULNS
Thycotic 2 1 6 2 0 9