The transfer comes 5 months after Clearlake Capital reportedly purchased Quest Software program for $5.4 billion.
5 months after being acquired by Clearlake Capital, Quest Software program has appointed a brand new CEO for its One Identification unit, which is in preparation for the eventual spin-off of its identification safety enterprise.
The corporate stated Tuesday that Mark Logan, who most just lately served as CEO of Boulder, Colo.-based LogRhythm, was quietly appointed CEO of One Identification late final month, changing into the unit’s first full-time CEO. Went.
In an interview with CRN, Logan, who has led a number of personal equity-backed tech corporations over the previous 20 years, clarified that his appointment was successfully step one towards the eventual spin-off of the 1,000-employee One Identification. Is. impartial firm.
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“We’re beginning a journey of separation from Quest,” Logan stated. “Quest and One Identification will not join on the hip.”
He didn’t give any timeline for the divestment, noting that a number of issues, together with HR, authorized and IT points, must be cleared first. “Will probably be a course of that takes a while,” he stated.
In a press release to CRN after this text was initially posted, Quest CEO Patrick Nichols indicated that any spin-off may take a while.
“This will probably be a course of that takes a while,” Nichols stated within the assertion. “We’re making a giant funding in an identification that is inducted Mark Logan earlier than [CEO], Identification is on a journey to turn out to be an organization able to offering a really unified identification safety platform.”
Logan stated that after the spin-off, Clearlake Capital One will stay the only proprietor of Identification.
However till the separation occurs, Logan stated clients and staff ought to “see little or no change,” as each Quest and One Identification proceed to work intently with their mixed headquarters in Aliso Viejo, Calif.
In a press launch, Nichols praised Logan’s chief qualities.
“Mark’s deep expertise creating enterprise software program corporations makes him the right match to steer One Identification,” he stated. “One Identification is main the market as the one firm to supply a really unified identification safety platform, and I’m assured that Mark’s experience will assist the corporate capitalize on its market management.”
A consultant for Clearlake was not made accessible for remark.
Final October, One Identification bought San Francisco-based OneLogin in an effort to convey collectively identification governance, privileged entry and identification entry administration on a single platform.
However only a month later, Clearlake introduced it was shopping for Quest Software program together with its One Identification holding, reportedly for $5.4 billion, together with debt, after half a decade of being owned by Francisco Companions. The deal closed in early February.
Now Quest, which has greater than 3,000 staff, has begun the method of pulling out One Identification lower than six months after the Clearlake acquisition closed.
Narayan Sharma, International Head of IAM and Cyber Safety Protection Platforms at Tata Consultancy Providers (TCS), accomplice of One Identification, in a press release, assured concerning the transfer to make One Identification an impartial firm.
“This spin-off demonstrates One Identification’s large focus and intent across the progress of the digital identification enterprise,” he stated. “We want One Identification immense success on this endeavor and sit up for a optimistic enhance to our strategic partnership to collectively ship worth to our clients.”
To additional One Identification’s channel technique, Logan stated he needs to extend the share of the corporate’s enterprise by means of the channel.