Transaction strongly validates global interest in cyber focused platforms, says Abrol
The recent acquisition of C3M, which has R&D team based out of India, will further strengthen NASDAQ-listed CyberArk’s existing Cloud Privilege Security offerings, said Clarence Hinton, Chief Strategy Officer, Head of Corporate Development, CyberArk.
“The transaction strongly validates global interest in acquiring product capabilities in cyber focused technology platforms,” added Sumeet Abrol, Partner and Head, Lead Advisory at Grant Thornton Bharat which has helped conclude the C3M-CyberArk deal.
With the aggressive adoption of cloud services, businesses require specialist solutions to manage their security posture across multiple cloud environments, and to have granular visibility into identity and access-related activities in the cloud, according to Karthik Gopalakrishnan, Partner, Lead Advisory at the New Delhi-based Grant Thornton Bharat.
“C3M has built best-in-class technology to address these needs. The acquisition by CyberArk, the world’s largest Identity Security company, was a natural fit,” he said on 11 Aug 2022.
Grant Thornton Bharat was the exclusive advisor to the shareholders of 2018-founded C3M, which has since grown into international company with offices in India and the United States, and R&D team based out of India.
C3M developed a cloud security management software that has been used by global enterprises across financial services, insurance, e-commerce and retail adopting cloud-centric business and technology transformations.
“With cloud-related breaches at an all-time high and privileged access being a major cause of concern for enterprises, we see huge possibilities and innovation happening in the Identity Security space,” added Padmanabhan Viswanathan, Founder and former CEO of C3M, and current VP of Cloud Security at CyberArk, headquartered Newton, Massachusetts.
“All of us from C3M are thrilled about this acquisition. Our mission was to simplify cloud security for enterprises and staying true to that mission enabled us to build a successful global business, helping industry leading security-focused companies manage their cloud security risk and improve their compliance posture.
“We are happy to be a part of CyberArk’s vision for the future of cloud security – with identity at the core,” Viswanathan added. fiinews.com
