TPG Capital-backed Centrify, a privileged access management firm, completed the merger with Insight Partners-backed Thycotic, a cloud-first company with innovative identity security solutions, for $1.4bn. “The increasing cost and impact of cyber breaches coupled with the explosive growth of cloud services and the interconnection of networks has driven rapid adoption of identity security software. Now more than ever, organizations are looking to strengthen their capabilities to ensure improved protection from the ever-increasing risk of cyber-intrusions. The combined company will deliver one of the most comprehensive product offerings in the business with the ability to adapt and scale to meet the evolving needs of customers,” Art Gilliland, Centrify CEO.