SailPoint has agreed to purchase the startup provider Intello to extend good security controls to ungoverned SaaS applications that are hidden in an organization’s environment
The identity security provider said its planned acquisition of Intello would help customers discover, manage and secure SaaS applications that are currently outside the purview of the IT organization The agreement will correct the current lack of visibility into existing SaaS applications in a company and help to properly manage and secure access to these applications for all workers.
“With the rapid adoption and use of cloud technologies over the past year, we want to make it very easy for customers to control the risk of SaaS application proliferation,” said Grady Summers, vice president SailPoint’s product executive, in a statement, “Discovery combined with visibility is the name of the game here, and we’ll be able to deliver that to our customers with Intello”
Terms of Intello’s proposed acquisition were not disclosed SailPoint’s stock remains unchanged at US $ 6208 per share Thursday afternoon
Intello was founded in 2017, employs 30 people, and has raised US $ 5.8 million in three rounds of outside funding, according to LinkedIn and Crunchbase Intello was co-founded and led by Barak Kaufman, who was previously an investor in Insight Partners Kaufman n ‘ is not mentioned in the press release on the acquisition, and SailPoint did not immediately respond to questions about its intention to join the company
“With our in-depth knowledge and expertise in identity security combined with Intello’s expertise in managing SaaS applications, we believe this acquisition will enable SailPoint to secure and fully support this future world of work – enabling secure adoption of SaaS at scale with identity security Summers said in the statement
The purchase of Intello will give SailPoint customers greater visibility and control over what data ungoverned SaaS applications access, what information they can import and whether or not it is configured correctly, a SailPoint Says Merging Intello’s usage data and detailed analytics with SailPoint’s artificial intelligence will help customers secure their SaaS applications and improve compliance
As a result of this acquisition, SailPoint’s identity platform will be able to ensure that every newly discovered SaaS application – and the data it contains – is protected with the right security controls from identity According to Summers, the increase in purchases and self-provisioning of unauthorized SaaS applications in recent years has led to a sharp increase in unprotected data stored and shared within these applications.
“With little to no visibility into phantom access within their organization, IT teams are further faced with the challenge of protecting themselves from cyber risks that have increased over the past year,” said Summers
Intello’s customers include Peloton, StackPath, Workiva and Flatiron, according to the company’s website The product integrates with other security providers such as Okta, OneLogin and Sumo Login, on platforms forms of communication such as Zoom and Slack and to technology tools such as Microsoft’s Salesforce, Box, and Office 365, the company’s website says
This is SailPoint’s first acquisition in October 2019, when the company bought emerging vendors Orkus and OverWatchID for $ 37$ 5 million to help customers better control access to applications in public cloud environments These agreements were intended to help SailPoint detect potential anomalies in the cloud, enforce access policies for all users, and maintain compliance across all corporate infrastructure
Aside from that, the only other acquisition in SailPoint’s 17-year history was its July 2015 purchase of Whitebox Security, which was intended to reduce security risks by identifying where sensitive data resides, according to Crunchbase
Software as a service, Intello Inc, Cloud computing, Management, IT security, SailPoint Technologies
Ebene News – AU – SailPoint to acquire application management start-up SaaS Intello