Privileged access management (PAM) providers Thycotic and Centrify have completed a merger to form a cloud identity security vendor, operating under the temporary name ThycoticCentrify.
The merger brings together both companies' PAM technologies, an area of the security market expected to grow as organizations struggle with the complexity of securing a number of privileged accounts that continues to increase as more infrastructure and services are moved to the cloud.
ThycoticCentrify plans to create an extensive privileged identity security platform and debut a new brand in the second half of 2021. The combined company is backed by TPG Capital and led by CEO Art Gilliland. Insight Partners, Thoma Bravo, and Public Sector Pension Investment Board (PSP Investments) have taken minority investments.
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