Additionally, the newly combined company acquired CSI Tools, a Belgium-based governance, risk and compliance management software provider, and Germany-based SAST Solutions, a holistic solution provider for systems, applications, and products (SAP) environments.
The combined company will be led by now-CEO Piyush Pandey, former CEO of Appsian.
“Traditionally, organizations are auditing the controls for their applications and data with a patchwork of manual processes, disparate software tools, and consulting and services organizations. The combined company from this series of mergers and acquisitions creates a first-of-its-kind, unified, 360-degree platform,” Pandey said.
“Now, organizations can automate their controls across their business applications and mitigate risk in real-time. It is a simplified way for enterprises to protect their data in the face of digital transformation and the cloud era. I am honored to be leading the charge on this endeavor,” he said.
As a part of these transactions, Pathlock is also announcing a $200 million capital raise led by New York-based Vertica Capital Partners. The company said this investment will allow Pathlock to further expand its Application Governance and Data Security capabilities.
“As we’ve detailed in our most recent Leadership Compass report on Access Control Solutions for SAP and other business applications, Pathlock is a key player in the Access Control market. Their latest M&A activity is reshaping this market,” said Martin Kuppinger, founder and principal analyst at cybersecurity market analysis company KuppingerCole. “One of Pathlock’s strongest capabilities is their broad support for business applications beyond the SAP ecosystem, with a coverage of over 140 applications. By combining their expertise with these four industry players, Pathlock is on its way to becoming a powerhouse in the application access governance space.”
Raymond James acted as financial advisor to Appsian Security. KPMG Investment Banking acted as the investment banking advisor to Security Weaver. Hampleton Partners acted as the financial advisor to Akquinet Enterprise Solutions, parent company of SAST.