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Tenable completed its acquisition of cloud-security company Ermetic on October 2, 2023, after announcing the agreement on September 7. The announced price was approximately $265 million: about $240 million in cash and $25 million in Tenable restricted stock and restricted stock units (RSUs), subject to customary purchase-price adjustments.
Did Tenable acquire Ermetic?
Yes. Tenable Holdings, Inc. announced an agreement to acquire Ermetic Ltd. on September 7, 2023, and announced that the transaction had closed on October 2, 2023. The agreement named Tenable, Inc., a wholly owned Tenable subsidiary, as the purchaser. Tenable’s SEC Form 8-K records the agreement; Tenable’s closing announcement confirms completion.
How much did Tenable pay for Ermetic?
The announced consideration was approximately $265 million, comprising approximately $240 million in cash and $25 million in restricted stock and RSUs. Those amounts were subject to customary purchase-price adjustments, so $265 million describes the approximate announced deal value, not necessarily the final accounting purchase consideration. The breakdown comes from the SEC filing.
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Tenable characterized Ermetic as a cloud-native application protection platform (CNAPP) company and a leading cloud infrastructure entitlement management (CIEM) provider. In practical terms, these categories address security posture and protection for cloud applications and infrastructure, alongside the permissions and entitlements assigned to identities in cloud environments.
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Why did Tenable want Ermetic?
Tenable said the acquisition would add capabilities to Tenable One and Tenable Cloud Security, helping customers see, prioritize, and remediate risk across infrastructure and identities in on-premises and cloud environments. That was Tenable’s stated product strategy, not independent confirmation of how the integration performed. The company’s September 7 announcement described its plans, while its October 2 closing release reiterated the intended portfolio fit.
In the closing release, Tenable chairman and CEO Amit Yoran said: “The unique combination of Tenable and Ermetic will give customers tightly integrated CNAPP capabilities for cloud environments, delivered through an elegant user experience that minimizes complexity and speeds adoption.” This was an executive’s description of expected customer benefits; the announcement does not independently measure those outcomes.
Quick Recap
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What the deal establishes—and what it does not
- Established: Tenable announced the agreement on September 7, 2023, and completed the acquisition on October 2, 2023.
- Established: The announced approximate consideration was $265 million, split between cash and restricted stock and RSUs, subject to adjustments.
- Company characterization: Ermetic brought CNAPP and CIEM capabilities that Tenable said would expand its cloud-security offerings.
- Not established by the deal announcements: Whether the integration delivered the promised customer experience or measurable security improvements.
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