JumpCloud absorbs competitor Myki

LOUISVILLE — JumpCloud Inc., a directory-as-a-service technology platform, has acquired competing password-management system Myki for an undisclosed sum.

The Louisville-based company, which achieved unicorn status last year with a $1-billion-plus valuation, said in a news release that it bought Myki for its managed service provider relationships, technology portfolio and engineering talent.

“Our directory platform is rapidly becoming the new IT backbone, centralizing critical functions around security, access, and identity management,” JumpCloud CEO Rajat Bhargava said in the release. “IT leaders know that a consolidated platform that handles user access to critical organization data and applications — from any device and anywhere — is far superior to using disparate point solutions in a patchwork approach that is not as robust and certainly not as easy to deploy. The Myki team shares our vision for the importance of a directory platform. And, it is bringing a wealth of technology innovations and strong engineering talent that will enhance the JumpCloud platform and deliver superior security, ease of use and value to our customers.”

Myki announced the acquisition on its website Tuesday and said, ”After careful consideration, we have made the difficult decision to discontinue our existing products on April 10, 2022.”

Myki clients are being invited to join JumpCloud, according to a JumpCloud statement, and Myki’s website said that the company is “confident that [clients] will encounter our products again in the future albeit under a different shape or form.”

JumpCloud has offered all Myki employees positions at JumpCloud.

on Facebook on LinkedIn