In the cybersecurity sector, startups are being acquired by larger tech companies at an astonishing pace. These acquisitions aim to enhance the capabilities of these tech giants in addressing the growing security needs of business customers. One such acquisition making waves in the industry is Rubrik’s purchase of Laminar, a specialist in securing data across popular public cloud platforms like AWS, Azure, Google, and Snowflake. This deal, rumored to be worth up to $250 million, marks a significant step forward for Rubrik in its mission to provide comprehensive cloud data management services. In this article, we will delve into the details of this acquisition, its implications for the industry, and the potential benefits it brings to Rubrik and its customers.
While the exact financial terms of the acquisition have not been officially disclosed, sources estimate the deal to be in the range of $200-250 million. Rubrik is acquiring all of Laminar’s assets, including its workforce, technology, and customer contracts. Laminar, originally rooted in Tel Aviv but headquartered in the United States, will serve as the foundation for Rubrik’s new cybersecurity research and development (R&D) operation. The deal is expected to be finalized by the end of the year, subject to regulatory approvals.
Laminar, launched in 2021, gained recognition for its expertise in securing data run and stored across various public cloud platforms. With an increasing number of companies undergoing digital transformation and migrating their workloads to public clouds, the need for robust cloud data security measures has become paramount. Laminar addressed this need by providing posture management and remediation tools to help security operations teams track activity and identify vulnerabilities. By focusing on visibility and management of data across multiple silos, Laminar aimed to tackle the security risks faced by enterprises in the cloud era.
Rubrik, a cloud data management company, initially built its tools ten years ago to cover backup and management needs. However, as the threat landscape evolved, Rubrik recognized the need to expand its offerings beyond data recovery. The watershed moment came in 2018 when a customer experienced a ransomware attack, requiring more than just data recovery. Since then, Rubrik has reoriented its business to prioritize proactive security posture and granular data security. With the acquisition of Laminar, Rubrik aims to close the loop on the tools it provides to its customers, offering a comprehensive suite of solutions that seamlessly integrate data management and security.
The cybersecurity market has become fiercely competitive, with numerous startups vying to address the security challenges faced by organizations operating in the cloud. Rubrik’s decision to acquire Laminar came after an exhaustive search for the best team and product in public cloud security posture management. Rubrik met with over a dozen startups in the space, highlighting the intense competition in this market segment. By joining forces with Laminar, Rubrik gains a competitive edge in terms of product development and enhances its position as a one-stop-shop for its customers’ cloud data management and security needs.
One of the persistent challenges faced by enterprises utilizing public clouds is maintaining visibility into their data. As organizations adopt hybrid solutions, where data is stored across multiple public clouds, private clouds, and on-premises environments, tracking data movement and usage becomes increasingly complex. This lack of visibility creates inadvertent vulnerabilities and makes it difficult for security teams to manage and secure data effectively. Rubrik recognizes the gravity of this issue and aims to address it by providing comprehensive data management and security solutions that offer complete visibility into data across various platforms.
The cost of cybercrime to businesses is projected to reach a staggering $10 trillion by 2025. This alarming statistic underscores the urgent need for robust cybersecurity measures in today’s digital landscape. By acquiring Laminar and bolstering its cloud data security capabilities, Rubrik positions itself as a key player in the fight against cyber threats. Rubrik’s comprehensive suite of solutions, combined with its focus on proactive security posture, empowers organizations to mitigate the risks associated with cybercrime. This not only protects businesses from potential financial losses but also safeguards their reputation and customer trust.
The acquisition of Laminar will result in the establishment of a new cybersecurity R&D center in Tel Aviv. This center will join Rubrik’s existing R&D operations in Bangalore, India, and Palo Alto, California. The addition of a dedicated research facility in Tel Aviv underlines Rubrik’s commitment to innovation and its recognition of Israel as a hub of cybersecurity excellence. By leveraging the expertise of the Laminar team and collaborating with the vibrant Israeli cybersecurity ecosystem, Rubrik aims to drive advancements in cloud data security and maintain its position at the forefront of the industry.
Rubrik’s acquisition of Laminar is part of a broader trend of prominent tech companies acquiring cybersecurity startups, particularly those based in Israel. CrowdStrike acquired Bionic.AI for a reported sum of between $200 million and $300 million, while IBM acquired Polar Security and Palo Alto acquired Cider Security for up to $300 million each. These acquisitions highlight the strength and innovation of the Israeli cybersecurity landscape and the attractiveness of Israeli startups to global players in the industry.
In summary, Rubrik’s acquisition of Laminar represents a significant milestone in the company’s journey to provide comprehensive cloud data management and security solutions. By integrating Laminar’s expertise in securing data across public cloud platforms, Rubrik strengthens its position as a leader in the cybersecurity space. The establishment of a new R&D center in Tel Aviv further underscores Rubrik’s commitment to innovation and its dedication to addressing the evolving challenges of cloud data security. As organizations continue to navigate the complexities of the digital landscape, Rubrik’s holistic approach to data management and security empowers businesses to protect their valuable assets and mitigate the risks posed by cyber threats.
First reported on TechCrunch
Frequently Asked Questions
1. What is the significance of Rubrik’s acquisition of Laminar in the cybersecurity sector?
Rubrik’s acquisition of Laminar is a significant move that enhances its cloud data security capabilities. The acquisition aims to address the growing security needs of businesses by providing comprehensive solutions for securing data across popular public cloud platforms like AWS, Azure, Google, and Snowflake.
2. What is the estimated value of the acquisition?
While the exact financial terms have not been officially disclosed, industry sources estimate the deal to be in the range of $200-250 million.
3. What are the main objectives of the acquisition for Rubrik?
The acquisition of Laminar allows Rubrik to strengthen its offerings in proactive security posture and granular data security. Rubrik aims to provide a comprehensive suite of solutions that seamlessly integrate data management and security for its customers.
4. How does Laminar’s expertise complement Rubrik’s existing offerings?
Laminar specializes in securing data run and stored across various public cloud platforms. By integrating Laminar’s expertise, Rubrik aims to offer complete visibility into data movement and usage, addressing the challenge of maintaining security in complex hybrid cloud environments.
5. How does the acquisition position Rubrik in the cybersecurity market?
The acquisition enhances Rubrik’s position as a key player in the fight against cyber threats. By bolstering its cloud data security capabilities, Rubrik empowers organizations to mitigate risks associated with cybercrime, protect their reputation, and maintain customer trust.
6. How will the acquisition impact Rubrik’s global operations?
The acquisition will result in the establishment of a new cybersecurity R&D center in Tel Aviv, Israel. This center will join Rubrik’s existing R&D operations in Bangalore, India, and Palo Alto, California.
7. How does the acquisition reflect the broader trend in the industry?
Rubrik’s acquisition of Laminar is part of a trend where prominent tech companies are acquiring cybersecurity startups, particularly those based in Israel. This trend highlights the strength and innovation of the Israeli cybersecurity landscape and the appeal of Israeli startups to global industry players.
8. How does Rubrik’s acquisition of Laminar benefit businesses facing cyber threats?
The acquisition empowers businesses with comprehensive data management and security solutions to protect against cyber threats. Rubrik’s focus on proactive security posture and visibility into data movement helps organizations mitigate risks, prevent financial losses, and safeguard their reputation.
9. What is Rubrik’s vision for the future following this acquisition?
Rubrik aims to maintain its position at the forefront of the industry by leveraging Laminar’s expertise and collaborating with the Israeli cybersecurity ecosystem. The establishment of the Tel Aviv R&D center underscores Rubrik’s commitment to innovation and advancing cloud data security solutions.
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