Security intelligence and management firms Exabeam and LogRhythm have announced plans to merge, aiming to leverage their combined strengths to deliver advanced AI-driven security operations, reports SiliconAngle.
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The merger promises enhanced R&D investments, greater service coverage, and a broader AI-focused product portfolio for customers. The terms of the merger, which is expected to close in the third quarter, remain undisclosed.
Exabeam offers the Security Intelligence Platform, which delivers advanced analytics and automated incident responses using machine learning, while LogRhythm's advanced security information and event management solutions and AI-powered platform are used to analyze, identify, and respond to threats as well as streamline security operations.
The move, which coincides with the news of Palo Alto Networks' acquisition of IBM’s QRadar SaaS assets and Cisco’s $28 billion acquisition of Splunk, indicates a trend towards consolidation in the cybersecurity industry, although the overall number of suppliers remains high.
"As a combined organization, we will continue to push the envelope of security operations innovation with solutions that bring AI, automation, SIEM, security analytics, and UEBA together to deliver a holistic approach to combating cyber threats,” said Exabeam CEO Adam Geller.
