KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, announced it has entered into a definitive agreement to acquire Egress, a leader in adaptive and integrated cloud email security. Egress’ Intelligent Email Security offering provides a range of scaled, AI-powered security tools with adaptive learning capabilities to help organizations prevent, protect against and defend against sophisticated email cybersecurity threats. No further terms of the transaction were disclosed.
Organizations worldwide are struggling to contain behavioral data breaches. According to the findings of the Data Breach Investigations Report prepared by Verizon, 74 percent of incidents involve the human factor. Through the acquisition of Egress, KnowBe4 aims to offer a single platform that dynamically aggregates threat intelligence and provides AI-based email security and training that is automatically tailored to risk.
“The future of security is personalized, AI-powered controls and real-time coaching. By offering a single platform of KnowBe4 and Egress, our customers will benefit from differentiated aggregate threat detection to stay ahead of evolving cyber threats and promote a strong security culture,” said Stu Sjouwerman, CEO of KnowBe4. “As integration partners for more than a year, with strong philosophical and cultural alignment, this acquisition is a natural progression for both companies to take human risk management and cloud email security to the next level.”
“KnowBe4 and Egress have a shared vision to deliver tailored and relevant security for every employee,” said Tony Pepper, CEO of Egress. “One of the biggest challenges organizations face is accurately identifying who is the next source of compromise – and why. By combining intelligence and analytics from integrated applications, companies can gain valuable insights across their entire cyber ecosystem. This way they can focus their attention on the risks that matter most.”
The announcement comes on the heels of a number of significant achievements for both companies so far in 2024. KnowBe4 recently announced Artificial Intelligence Defense Agents (AIDA), its AI-based platform, which integrates advanced AI agents to drive efficiency and speed. Recent notable awards include being recognized as a Top Software Winner by G2 and winner of Energage’s Top Workplaces USA for 2024. Meanwhile, Egress launched its AI-powered Automated Abuse Mailbox in early April and received several award recognitions, including Security Innovation of the Year ( Computing Security Excellence Awards), Best Email Security Solution, Best Data Leak Prevention Solution (SC Awards Europe) and Best Place to Work in the UK (Great Places to Work 2024).
The transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals.
Egress is backed by FTV Capital and AlbionVC. Citi acted as exclusive financial advisor to Egress and Orrick, Herrington & Sutcliffe LLP acted as legal counsel to Egress.
SOURCE: BusinessWire