SailPoint Closes Acquisition of Intello
SailPoint Technologies Holdings, Inc. (NYSE: SAIL) has completed its acquisition of Intello, a SaaS management company. This strategic move aims to enhance visibility and governance of ungoverned SaaS applications for SailPoint's customers. Grady Summers, EVP Product, emphasized that Intello's expertise aligns with SailPoint’s focus on identity security. The integration of Intello’s analytics with SailPoint’s AI capabilities is expected to improve security controls and compliance for users. Forward-looking statements are included, highlighting possible uncertainties affecting future operations.
- Acquisition of Intello enhances SaaS governance and visibility for customers.
- Intello's analytics and insights will improve identity security measures.
- Synergy between Intello’s SaaS management and SailPoint’s identity security strategy.
- Potential for increased customer satisfaction through enhanced security controls.
- Integration challenges may arise from merging two distinct company cultures.
- Uncertainties in achieving projected benefits from the acquisition.
- Dependence on Intello's technology performance to meet customer expectations.
SailPoint Technologies Holdings, Inc. (NYSE: SAIL), the leader in identity security for the cloud enterprise, today announced the completion of its acquisition of Intello, an early-stage SaaS management company that helps organizations discover, manage, and secure SaaS applications. With this acquisition, SailPoint customers will soon have deeper visibility and a broader understanding of the full scope of their ungoverned SaaS applications, helping them to drive a seamless process from discovery to governance across the entirety of their SaaS app landscape.
“We are thrilled to welcome the Intello team to SailPoint – they bring a strong and innovative leadership team and SaaS management expertise that will help us deliver quick value to customers,” said Grady Summers, EVP Product, SailPoint. “Their view of SaaS management is through the lens of security, which tightly aligns with our identity security vision and approach at SailPoint. I’m looking forward to working with the new team to address the growing challenge of seeing, understanding, and securing access to SaaS apps across the workforce for our customers.”
With the acquisition of Intello, SailPoint’s customers will be able to quickly wrap the right identity security controls around every newly-discovered SaaS app (and data within) – helping them to shut down shadow IT across the business. This acquisition also provides companies with new types of identity security recommendations. The detailed usage data and analytics that the Intello technology provides combined with SailPoint’s artificial intelligence capabilities will give enterprises a new level of insight needed to better secure their SaaS applications and improve compliance.
"All of us at Intello are thrilled to join SailPoint,” said Barak Kaufman, CEO and co-founder, Intello. “As part of the SailPoint crew, we’ll help to build the future of identity security, combining Intello’s SaaS discovery and insights with SailPoint’s leading identity security platform. SailPoint is shaping the future of IT and identity security, and I look forward to the accelerated momentum in the weeks and months ahead."
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. 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.
About SailPoint
SailPoint is the leader in identity security for the cloud enterprise. We’re committed to protecting businesses from the inherent risk that comes with providing technology access across today’s diverse and remote workforce. Our identity security solutions secure and enable thousands of companies worldwide, giving our customers unmatched visibility into the entirety of their digital workforce, and ensuring that each worker has the right access to do their job – no more, no less. With SailPoint as foundational to the security of their business, our customers can provision access with confidence, protect business assets at scale and ensure compliance with certainty.
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