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Cybersecurity Providers Netwrix and Stealthbits Announce Merger
The combined entity will continue to provide its complete portfolio of more than a half dozen security solutions purposed at identifying and detecting data security risk as well as protecting, responding, as well as recovering from cybersecurity attacks.
FREMONT, CA: Netwrix, a cybersecurity vendor that makes data security easy, has announed a merger with Stealthbits, a cybersecurity leader that protects credentials and sensitive data from attackers. The combined entity will continue to provide its complete portfolio of more than a half dozen security solutions purposed at identifying and detecting data security risk as well as protecting, responding, as well as recovering from cybersecurity attacks.
Fragmented solutions in the data security market prevent organizations from building comprehensive security strategies in order to protect their sensitive as well as regulated data. In order to address this challenge, Netwrix and Stealthbits are joining forces to utilize each other's expertise to broaden product capabilities and improve user experience. This will empower the combined organization to offer seven core products encompassing all elements of data and information security, invest in innovation to exceed the expectations of existing partners and customers and expand its customer base globally.
With more than 500 employees and customers from over 50 countries, the combined company will operate as Netwrix with Steve Dickson continuing to serve as its chief executive officer and on the company's Board of Directors. Steve Cochran, founder and chairman of Stealthbits, is expected to be an investor in Netwrix and will serve on its Board of Directors.
"We couldn't be more thrilled to be merging with the people and products of Stealthbits. Our combined organization can now offer data security solutions for any organization anywhere in the world," stated Steve Dickson, CEO at Netwrix.
"Stealthbits has always been driven to work with our customers to solve their most challenging credential and data security requirements. Combining our breadth of products and depth of expertise with that of Netwrix means our customers can quickly strengthen their security posture and address multiple projects and requirements through a single provider," stated Steve Cochran, founder and chairman of Stealthbits.
For the foreseeable future, prospects, customers, and partners of each company will continue to interact with each company as they do today for support, sales, and partner activity. Both Netwrix and Stealthbits are committed to transparency and will be informing their prospects, customers, and partners of operational changes through this process over the coming months.