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CYBERARK SOFTWARE LTD.

(CYBR)
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CyberArk Software : Telefˇnica Tech and CyberArk to Deliver New Identity Security Managed Service Offering

10/06/2021 | 06:04am EST

Managed Services Provider Expands Cybersecurity Offerings with New Identity-Driven Solutions Built on CyberArk

Telefónica Tech, the leading digital transformation enabler, and CyberArk (NASDAQ: CYBR), the global leader in Identity Security, are teaming up to deliver an expanded portfolio of SaaS-based cybersecurity solutions that prioritize a security-first approach to protecting against identity-driven risk. Customers will benefit from being able to secure access for all human and machine identities without sacrificing business agility.

As part of this agreement, both Telefónica B2B customers as well as Telefónica telecommunications operators will have access to a new set of innovative cybersecurity offerings, built on the CyberArk Identity Security Platform. Telefónica Tech will offer the CyberArk platform as a managed service, addressing the Identity Security needs of customers - from large enterprises to SMBs - in multiple countries including Brazil, Germany, Spain, the UK and the USA.

Organizations are deploying increasingly complex enterprise networks in order to enable remote work and accelerate digital transformation. As a result, traditional perimeter-based approaches to security are no longer sufficient – there are simply too many critical credentials, secrets and identities to manage without a best-in-class Identity Security solution. Cybercriminals are regularly able to exploit gaps in network perimeters and negatively impact businesses by compromising both user and machine identities.

Centered on privileged access management, the CyberArk Identity Security Platform delivers a security-first approach to authentication, authorization, access and audit, in an integrated, seamless manner — helping to ensure protection at every step in the Identity Security lifecycle with a frictionless user experience.

“Organizations are struggling to adapt their corporate security in the post-pandemic scenario. To cope with this changing situation, Telefónica Tech aims to address this need with market-leading security management services, based not only Telefónica’s SOC capabilities, but also via establishing alliances with the most advanced technology providers,” said Alberto Sempere, Cybersecurity Product & Services director, Telefónica Tech. “For this reason, Telefónica Tech is building out its Identity Security offering with CyberArk as its foundation, making the entire CyberArk Identity Security Platform available as a managed services provision to Telefónica Tech customers around the world.”

“User credentials and machine secrets have become the vector of choice for attackers as they seek to compromise privileged data and assets at organizations across all verticals,” said Chris Moore, vice president, Global Channels, CyberArk. “Telefónica Tech is a leading global managed service provider, and we are delighted to be an integral part of its managed cyber services portfolio. Customers will benefit from a proactive Identity Security-centered approach to mitigating cyber risk.”

The relationship further expands CyberArk’s footprint in major economies in Europe as well as Latin America. CyberArk was named a Leader in the 2021 Gartner® Magic Quadrant™ for Privileged Access Management (1). The company was positioned both highest in Ability to Execute and furthest in Completeness of Vision for the third time in a row. For more information visit: https://www.cyberark.com/gartner-mq-pam/

(1) Gartner, Magic Quadrant for Privileged Access Management, Felix Gaehtgens, Abhyuday Data, Michael Kelley, Swati Rakheja, 19th July 2021

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Telefónica Tech

Telefónica Tech is the leading company in digital transformation. The company has a wide range of services and integrated technology solutions in Cybersecurity, Cloud, IoT, Big Data or Blockchain. For more information, please visit: https://tech.telefonica.com/.

About CyberArk

CyberArk (NASDAQ: CYBR) is the global leader in Identity Security. Centered on privileged access management, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud workloads and throughout the DevOps lifecycle. The world’s leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com, read the CyberArk blogs or follow on Twitter via @CyberArk, LinkedIn or Facebook.

Copyright © 2021 CyberArk Software. All Rights Reserved. All other brand names, product names, or trademarks belong to their respective holders.


ę Business Wire 2021
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Financials (USD)
Sales 2021 496 M - -
Net income 2021 -85,3 M - -
Net cash 2021 744 M - -
P/E ratio 2021 -76,6x
Yield 2021 -
Capitalization 6 397 M 6 397 M -
EV / Sales 2021 11,4x
EV / Sales 2022 9,97x
Nbr of Employees 1 689
Free-Float 98,4%
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Number of Analysts 22
Last Close Price 160,90 $
Average target price 220,85 $
Spread / Average Target 37,3%
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Managers and Directors
Ehud Mokady Chairman & Chief Executive Officer
Joshua Siegel Chief Financial Officer
Sigalit Shavit Chief Information Technology Officer
Matthew Lessner Cohen Chief Operating Officer
Donna Rahav General Counsel & Compliance Officer
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