Private equity company TPG Capital revealed on Thursday that it had decided to buy a controlling stake in Centrify, a developer of privileged access management (PAM) solutions.
Established in 2004, Centrify, headquartered in Santa Clara, Calif., offers a forum to implement minimum access to rights on a scale through business networks.
Thoma Bravo, the private equity investment company that purchased a controlling interest in Centrify in 2018, will buy the stake from TPG. Terms of the deal have not been disclosed.
Art Gilliland is to become the CEO of Centrify in conjunction with the deal, succeeding Flint Brenton.
The PAM solutions from Centrify exploit the concepts of Zero Confidence to allow users to access the apps they need without exchanging accounts. The software lets companies simplify and integrate controls of privileged access, minimise threats and maintain compliance.
The supplier of PAM solutions represents thousands of clients from the financial, security, energy, healthcare, engineering, and retail industries.
For years, with investments in organisations such as Digital.ai, Expanse, McAfee, MX Technologies, Planview, Tanium, and Zscaler, TPG has been active in the emerging cybersecurity space.
Today, every company invests in its own digital armour, and its ability to gain privileged access to sensitive networks and resources is crucial to this security. Many of the world’s biggest and most security-conscious organisations trust the industry-leading PAM technology of Centrify to secure their most valuable accounts,’ Gilliland said.