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.
Read More: Malware Attacks on Remote Working Devices Are On the Rise
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.
