SailPoint Announces Intent to Acquire Intello to Identify, Secure, & Govern Access to SaaS Applications for Today’s Digital...
February 18 2021 - 4:30PM
Business Wire
SailPoint Technologies Holdings, Inc. (NYSE: SAIL), the leader
in identity security for the cloud enterprise, today announced its
intent to acquire Intello, an early-stage SaaS management company
that helps organizations to discover, manage, and secure SaaS
applications, particularly the “shadow access” that is currently
outside of IT’s purview. This pairing will address a current lack
of visibility into what SaaS apps exist across today’s digital
business combined with the critical need to properly manage and
secure access to these apps for all workers. As a result,
SailPoint’s Identity Platform will give IT teams a seamless process
from discovery to governance, ensuring every newly-discovered SaaS
app (and data within) is protected with the right identity security
controls.
“The IT landscape has changed markedly from even just a few
years ago with the influx of new technologies and, more recently,
the impact of the predominantly remote workforce. In their quest to
work smarter and faster, workers are buying and self-provisioning
unsanctioned SaaS apps at a record pace with little or no oversight
by IT,” said Grady Summers, EVP Product, SailPoint. “This has led
to a sharp rise in ungoverned SaaS sprawl and unprotected data that
is being stored and shared within these apps. With little to no
visibility into what shadow access exists within their
organization, IT teams are further challenged to protect from the
cyber risks that have increased over the past year.”
With Intello, SailPoint will enable organizations to shine a
light on ungoverned SaaS apps that lie hidden across the business
and then extend the right security controls to ensure only the
right people have access to those apps. This will provide greater
visibility and control over what data these SaaS apps are
accessing, what information they may be importing and whether or
not they are configured properly. And, when SailPoint’s artificial
intelligence capabilities are combined with the detailed usage data
and analytics that Intello provides, customers will begin to
benefit from new types of identity security
recommendations--helping them better secure their SaaS applications
and improve compliance.
Summers continued, “With the rapid adoption and use of cloud
technologies in the past year, we want to make it incredibly easy
for customers to get their arms around the risk of SaaS app sprawl.
Discovery combined with visibility are the name of the game here,
and we’ll be able to deliver that to our customers with Intello.
With our deep identity security knowledge and expertise combined
with Intello’s expertise in SaaS app management, we believe this
acquisition will allow SailPoint to fully secure and support this
future world of work – enabling secure SaaS adoption at scale with
identity security.”
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the federal securities laws, including regarding our
strategy, integration of the acquisition, future operations,
prospects, plans and objectives of management. In some cases, you
can identify forward-looking statements because they contain words
such as “may,” “will,” “will be,” “will likely result,” “should,”
“expects,” “plans,” “anticipates,” “could,” “would,” “foresees,”
“intends,” “target,” “projects,” “contemplates,” “believes,”
“estimates,” “predicts,” “potential” or “continue” or the negative
of these words or other similar terms or expressions that concern
our expectations, strategy, plans or intentions. These statements
are based on management’s current expectations, assumptions and
beliefs concerning future developments and their potential effect
on us, which are inherently subject to uncertainties, risks and
changes in circumstances that are difficult to predict. Our
expectations expressed or implied in these forward-looking
statements may not turn out to be correct. Important factors, some
of which are beyond our control, that could cause actual results to
differ materially from our historical results or those expressed or
implied by these forward-looking statements include the following:
the scope, duration and severity of the novel coronavirus disease
(“COVID-19”) global pandemic and its effect on the global economy
and on our business; our ability to achieve and sustain
profitability; our ability to sustain historical growth rates; our
ability to attract and retain customers and to deepen our
relationships with existing customers; an increased focus in our
business from selling licenses to selling subscriptions; breaches
in our security, cyber-attacks or other cyber-risks; interruptions
with the delivery of our SaaS solutions or third-party cloud-based
systems that we use in our operations; our ability to compete
successfully against current and future competitors; the length and
unpredictable nature of our sales cycle; delayed effects on our
operating results from ratably recognizing some of our revenue;
fluctuations in our quarterly results; our ability to maintain
successful relationships with our channel partners; the increasing
complexity of our operations; real or perceived errors, failures or
disruptions in our platform or solutions; our ability to adapt and
respond to rapidly changing technology, industry standards,
regulations or customer needs, requirements or preferences; our
ability to comply with our privacy policy or related legal or
regulatory requirements; our ability to successfully identify,
acquire and integrate companies and assets; our ability to maintain
high-quality customer satisfaction; and our ability to maintain and
enhance our brand or reputation as an industry leader. These and
other important risk factors could cause actual results to vary
from expectations and are described more fully in our reports and
other documents filed with the Securities and Exchange Commission
(“the SEC”), including the detailed factors discussed under “Part
I, Item 1A. Risk Factors” in our Annual Report on Form 10-K for the
year ended December 31, 2020, which was filed with the SEC on
February 26 2021. Moreover, we operate in a very competitive and
rapidly changing environment. New risks and uncertainties emerge
from time to time and it is not possible for us to predict all
risks and uncertainties that could have an impact on the
forward-looking statements contained in this press release. We
cannot assure you that the events and circumstances reflected in
the forward-looking statements will be achieved or occur, and
actual results, events or circumstances could differ materially
from those described in the forward-looking statements.
Any forward-looking statement speaks only as of the date as of
which such statement is made, and, except as required by law, we
undertake no obligation to update or revise publicly any
forward-looking statements, whether because of new information,
future events, or otherwise.
About SailPoint
SailPoint is the leader in identity security for the cloud
enterprise. We’re committed to protecting businesses from the
inherent risk that comes with providing technology access across
today’s diverse and remote workforce. Our identity security
solutions secure and enable thousands of companies worldwide,
giving our customers unmatched visibility into the entirety of
their digital workforce, and ensuring that each worker has the
right access to do their job – no more, no less. With SailPoint as
foundational to the security of their business, our customers can
provision access with confidence, protect business assets at scale
and ensure compliance with certainty.
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version on businesswire.com: https://www.businesswire.com/news/home/20210218006052/en/
Investor Relations ICR for SailPoint Brian Denyeau,
512-664-8916 investor@sailpoint.com
Media Inquiries: Jessica Sutera, 978-278-5411
Jessica.Sutera@sailpoint.com
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