Software provider Pathlock has merged with data security and compliance solutions companies Appsian and Security Weaver, the Flemington-based company announced on May 17.
In addition, the newly merged company acquired CSI Tools, a Belgium-based provider of governance, risk and compliance management software, and Germany-based SAST Solutions, a provider of holistic solutions for systems environments. , applications and products (SAP).
The combined company will be led by current CEO Piyush Pandey, former CEO of Appsian.
“Traditionally, organizations audit their application and data controls with a patchwork of manual processes, disparate software tools, and consulting and service organizations. The company resulting from this series of mergers and acquisitions creates a single, unified, 360-degree platform,” Pandey said.
“Now organizations can automate their controls across all of their business applications and mitigate risk in real time. It’s a simplified way for businesses to protect their data in the face of digital transformation and the cloud era. I am honored to lead the charge of this company,” he said.
As part of these transactions, Pathlock is also announcing a $200 million fundraising round led by New York-based Vertica Capital Partners. The company said the investment will allow Pathlock to further expand its application governance and data security capabilities.
“As we detailed in our last Leadership Compass report on access control solutions for SAP and other business applications, Pathlock is a key player in the access control market. Their latest M&A activity is reshaping this market,” said Martin Kuppinger, founder and principal analyst at cybersecurity market analyst firm KuppingerCole. “One of Pathlock’s most powerful capabilities is its broad support for business applications beyond the SAP ecosystem, with coverage of over 140 applications. By combining their expertise with these four industry players, Pathlock is poised to become a powerhouse in the area of application access governance.
Raymond James acted as financial advisor to Appsian Security. KPMG Investment Banking acted as investment banking advisor to Security Weaver. Hampleton Partners acted as financial advisor to Akquinet Enterprise Solutions, parent company of SAST.
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