Tag: cyberark
Companies complacent about AI-generated cyber-attacks
Companies are largely ignorant of the looming threat of increased artificial intelligence (AI) identity theft, despite the fact that 93 per cent of companies surveyed suffered two or more identity-related breaches in 2024. According to leading identity management company CyberArk Software, executives and employees alike are overconfident of their ability to spot ongoing ID-theft and subsequent cyber breaches, with over 75 per cent of respondents to a recent survey saying that they are confident their employees can identify deepfake videos or audio of their leaders. “Employees are [also] largely confident in their ability to identify a deepfake video or audio of the leaders in their organization. Whether we chalk it up to the illusion of control, planning fallacy, or just plain human optimism, this level of systemic confidence is misguided,” warns Cyberark following a survey of 4,000 US-based employees.
ID security acquisition to spark M&A growth
Identity security company CyberArk has announced that it is acquiring machine identity management specialist Venafi for US $1.54 billion from software-focused investor Thoma Bravo, which already manages US$138 billion in assets. The acquisition is being seen by some market sources as the start of more highly-focused acquisition-driven growth in the increasingly sharply defined and specialized cybersecurity sector. The logic behind the Venafi acquisition is clear. According to CyberArk, the number of machines is rapidly outpacing the growth of their human counterparts, with more than 40 machine identities for every human identity. By adding Venafi’s machine identity management to its dominant identity security position, CyberArk expects to expand its total addressable market by almost US$10 billion to around US$60 billion.