Cybersecurity Firms LogRhythm and Exabeam to Merge, Creating AI-Driven Security Ops Company

Cybersecurity firms LogRhythm and Exabeam are joining forces in a merger that will create a powerhouse in AI-driven security operations. The financial terms of the deal have not been disclosed, but the companies have promised enhanced R&D investments and product innovation for their customers.

The merger will bring together LogRhythm, founded in 2003 and based in Broomfield, Colorado, with 527 employees, and Exabeam, founded in 2013 and based in Foster City, California, with 680 employees. Both companies specialize in SIEM and UEBA, providing threat detection, investigation, and response services.

Chris O’Malley, CEO of LogRhythm, expressed excitement about the merger, stating, “Together our expertise and shared strategic vision will accelerate innovative AI-driven cybersecurity solutions for customers around the world.” Adam Geller, CEO of Exabeam, added, “With AI and cloud as driving forces that can’t be ignored in the market, we look forward to collectively addressing the needs of our joint prospects and customers to further enhance their cybersecurity capabilities.”

The merger is expected to close in the third quarter of 2024, pending regulatory approvals and customary closing conditions. J.P. Morgan Securities LLC and Goodwin Procter LLP acted as advisors to Exabeam, while Kirkland & Ellis LLP advised LogRhythm on the transaction.

This merger marks the 131st technology M&A deal covered by ChannelE2E and MSSP Alert in 2024, highlighting the continued consolidation and innovation in the cybersecurity industry. Stay tuned for more updates on this exciting development in the cybersecurity sector.