Thycotic Buys Onion ID to Extend PAM Portfolio

Thycotic, a provider of privileged access management (PAM) technology, has confirmed plans to acquire PAM solution provider Onion ID as a means of expanding its product portfolio.

The deal will bring three new tools into the firm's lineup. Thycotic Remote Access Controller is built to simplify and automate access to IT resources for remote employees. Thycotic Cloud Access Controller ensures admins for Internet-as-a-service (IaaS) platforms and software-as-a-service (SaaS) applications can maintain role-based access controls, which state what users can read, click, or modify in a web application.

The third, Thycotic Database Access Controller, will let organizations adopt modern cloud databases while managing appropriate access levels, multifactor authentication, and reporting and auditing, all of which are needed as more businesses adopt cloud-hosted databases. 

Onion ID was founded in 2015 and developed a cloud-based SaaS tool to help businesses and teams control access across properties. In a statement on the acquisition, founder and CEO Anirban Banerjee said it strengthens the company's commitment to bringing authentication and auditing to cloud servers, databases, and applications. Onion ID plans to launch a set of next-gen PAM tools to help organizations increase their security controls, Banerjee said.

Terms of the deal were not disclosed. Following the acquisition, Onion ID will operate under the Thycotic brand and leadership.

Read more details here.

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