Thycotic

Thycotic is a developer of password management solutions, as well as their protection against external and internal threats. The company's solutions are used by more than 7,500 large companies around the world, including 20% of Fortune 500 organizations. Clients include Activision, Adobe, AT & T, Citrix, Equifax, Hitachi, Honda, Microsoft, Netflix, Qualcomm, RedBull, SAAB, Valve and many others.

In addition to password management solutions (Secret Server and End-User Password Reset Server), Thycotic offers customers other products: Privilege Manager for Windows and Unix, a local security solution for Windows, a security analysis solution for Windows, as well as Group Management Server, which allows users to manage their Active Directory sections. A comprehensive EPAS Suite solution, including Secret Server and Privileged Manager for Windows and Unix, allows you to control privileged accounts, limit access rights to servers and client computers, and allow only approved applications to run.

History

2021: TPG Capital bought Thycotic for $1.4 billion

In early March 2021, TPG Capital announced the purchase of password management tools developer Thycotic for $1.4 billion. TPG Capital plans to merge the company with a technology developer acquired at the end of January 2021 to organize the centralized management of cross-platform systems and mobile devices of the Centrify enterprise.

The agreement to acquire Thycotic developer by TPG Capital was signed on March 1, 2021, but the deal has not yet been closed. Insight Partners has been a majority shareholder in Thycotic since July 2015, and in February 2021, a private investment company attracted Evercore, a consulting firm, to assist in the process of selling Thycotic.

TPG Capital acquired Thycotic for $1.4 billion

According to TPG Global, former Symantec Enterprise executive and Skyport Systems CEO Art Gilliland became Centrify's new CEO, replacing Flint Brenton, who has held a senior position at Centrify since July 2020. Since July 2015, Thycotic has been led by James Legg, former president and CEO of PHD Virtual Technologies. Under Legg's leadership, Thycotic was the fastest growing company in the PAM market, which grew by 40% year-on-year. Who will lead the combined company Centrify-Thycotic in the future is still unknown.

According to LinkedIn, by March 2021, 519 people work in Thycotic. In 2020, the company increased the number of employees by 13%, if you take into account the indicators of 2019, then by 51%. At the same time, the most significant recruitment of employees occurred in the sales, information technology and engineering departments.

In February 2021, Thycotic announced that in 2020, the company increased its global sales by 28% and the number of partner transaction registrations by 17% thanks to new educational initiatives, expanded customer service and partner marketing support.^[1]

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