LogRhythm & Exabeam merger to spearhead AI in cybersecurity

Cybersecurity SIEM and UEBA innovation leaders, LogRhythm and Exabeam, have announced their intention to merge, aiming to spearhead the future of AI-driven security operations. Moving forward, both companies will harness their collective innovation strengths to offer more effective threat detection, investigation, and response (TDIR).

The merger of LogRhythm, acclaimed for turning disconnected data and signals into trustworthy insights, and Exabeam, well known for delivering AI-driven security operations, is set to yield a company that expands and enhances AI-driven security operations through their complementary strengths.

Chris O'Malley, CEO of LogRhythm, expressed his excitement about the prospective union. "Together our expertise and shared strategic vision will accelerate innovative AI-driven cybersecurity solutions for customers around the world," he said. "With more than twenty years of best-in-class SIEM and UEBA experience in serving thousands of worldwide customers, we are poised to create a new employee-inspired organisation that encapsulates the absolute best of what we both offer."

O'Malley went on to say that "Vigilant CISOs have eagerly awaited the emergence of a strong, customer-obsessed, singularly-focused global leader in AI-driven security operations—one that offers a best-of-breed alternative to the frustratingly complex options on the market today. That day has arrived."

The merger will provide enhanced R&D investments and product innovation, greater service and support coverage, and access to a larger AI-driven product portfolio. This will include both cloud-native and on-premises options.

Adam Geller, CEO of Exabeam, mapped out the vision for the combined entity. "As a combined organisation, 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," he explained. He further noted that with AI and cloud being pivotal factors in the market, they look forward to collectively addressing the needs of their joint customers and enhancing their cybersecurity TDIR capabilities. Capping off the achievement, he said that they're proud to be named a Leader in the 2024 Gartner Magic Quadrant for SIEM for the fifth consecutive time.

The merger process is forecasted to conclude in the third quarter of 2024, subject to regulatory approvals and usual closing conditions.