LogRhythm plans merger with California cybersecurity firm
BROOMFIELD — LogRhythm Inc., a computer data security company, has inked a merger agreement with California-based cybersecurity firm Exabeam.
“The combined company will leverage the complementary strengths from each organization to take AI-driven security operations to new heights,” the companies said in a news release.
The merger, terms of which were not disclosed, is expected to close in the third quarter of 2024.
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“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 (threat detection, investigation and response) capabilities,” Exabeam CEO Adam Geller said in the release.
Thoma Bravo, a Chicago-based private equity firm, bought a controlling stake in LogRhythm, which was formed in Boulder before moving its headquarters to Broomfield several years ago, in 2018. Terms of that deal were not disclosed.