CyberArk to extend its security level
Cybersecurity solution provider CyberArk (CYBR) is in agreement to acquire Viewfinity, a leader in privilege management and application control software, for $30.5 million.
By acquiring Viewfinity, CyberArk is targeting a network segment that will provide its business clients with a comprehensive security solution. Until now, authentication has been centralized, allowing an administrator to provide roles and responsibilities to end users. Following the acquisition, CyberArk will be able to limit privileged access to business clients and allow only trusted applications to run for end users. This will reduce the probability of intrusion and unauthorized system access by attackers.
Comprehensive solutions for business clients
Viewfinity has expertise in controlling privileges and managing business applications. The established synergy between the two will allow CyberArk to deliver improved security solutions against cyber attacks to their business clients. Moreover, CyberArk will be in a position to provide a wide range of solutions by incorporating Viewfinity’s application controlling solution with their credential vaulting.
Udi Mokady, CEO (chief executive officer) of CyberArk, stated, “CyberArk’s acquisition of Viewfinity is another step forward in our strategy to advance the new security layer inside the network that is necessary to protect valuable corporate assets from cyber attacks.”
Financial gain from acquisition
CyberArk expects minimal impact on its 4Q15 revenue and non-GAAP earnings per share from the Viewfinity acquisition. The company currently estimates that it will make an addition of $7–$9 million in revenue and will increase its non-GAAP earnings per share in 2016.
The Technology Select SPDR ETF (XLK) is a portfolio of 47 stocks, out of which the top four stocks Apple (AAPL), Microsoft (MSFT), Facebook (FB), and Google (GOOG) constitute 16.4%, 8.9%, 4.8%, and 4.8%, respectively.