One Identity now independent, will set up shop in Cork to focus on identity security

One Identity is becoming an independent company and shifting its operations to Europe. A release from the firm says it will set up a new global headquarters in Cork, Ireland, and provide unified identity governance in a bid to capitalize on a combined identity governance and administration (IGA) and privileged access management (PAM) market estimated at around $10 billion.

“Identity is now the control plane for enterprise security,” says Praerit Garg, CEO of One Identity. “Almost all security breaches can be traced back to identity compromises. Most organizations are still governing it with tools that were built for a different era. AI is accelerating the problem faster than most organizations realize: every agent and every automated workflow are identities that need to be governed. Our customers are dealing with environments that are more distributed and harder to govern than anything legacy frameworks were designed for.”

Garg says operating as a standalone company “gives us the focus this problem requires and the speed our customers demand.”

Per the release, more than 80 percent of the One Identity engineering organization is based in Europe, including Chief Technology Officer Gihan Munasinghe and other key leadership roles. The move is therefore a natural step, building on long-standing investment across the United Kingdom, Germany, Ireland, and elsewhere in Europe.

One Identity was founded in 2016 when it was separated from cybersecurity company SonicWall in Dell’s sale of its software group to private equity firms Francisco Partners and Elliott Management. As part of this transaction, Dell Software also became its own entity, Quest Software, and although One Identity was spun off as an independent brand, it remained part of the Quest family.

In 2021, the company acquired OneLogin, a provider of identity and access management software; OneLogin has since become its main product.

One Identity recently named Michael Henricks as its new chief financial and operating officer, and Randy Menon as chief product and marketing officer.

Article Topics

digital identity  |  identity governance  |  identity security  |  Ireland  |  One Identity