Cyber security vendor Netwrix has announced it is merging with Stealthbits, a fellow cyber security firm that protects sensitive data and credentials from attackers.
The freshly combined business will retain the Netwrix name and continue to offer its complete portfolio of security solutions, aimed at identifying and detecting data security risk as well as protecting, responding and recovering from cyber security attacks.
Netwrix says the merger will enable the companies to leverage each other's expertise to broaden product capabilities and improve user experience.
As a result, the combined business will be able to offer seven core products spanning all elements of data and information security, invest in innovation, as well as expand its global customer base.
"We couldn’t be more thrilled to be merging with the people and products of Stealthbits," commented Steve Dickson, CEO at Netwrix. "Our combined organisation can now offer data security solutions for any organisation anywhere in the world."
With over 500 employees and customers spanning more than 50 countries, the combined company will continue to operate as Netwrix, with Dickson continuing to lead the firm as CEO and a member of the Board of Directors.
Steve Cochran, founder and chairman of Stealthbits, will become an investor in Netwrix and will also serve on its Board of Directors.
For the time being, customers and partners will continue to interact with each company as they have previously, but both firms said they will be transparent about operational changes over the coming months.
"Stealthbits has always been driven to work with our customers to solve their most challenging credential and data security requirements,” said Steve Cochran, founder and chairman of Stealthbits.
"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."
