Press Releases

Cyber-Ark Unveils New Partner Program as Privileged Identity Management Market Skyrockets

NEWTON, MA - October 29, 2007 - Hot on the heels of this month's launch of Enterprise Password Vault™ (EPV) 4.5, Cyber-Ark Software, the leading provider of solutions for Privileged Identity Management (PIM), today unveiled their exciting new global partner program. With unprecedented demand for Cyber-Ark's suite of products, channel partners are being presented with an accelerated partner package that will enable them to have the skills, training, support and collateral to quickly get to market.

Cyber-Ark has never seen such a great desire from global companies seeking them out for the Cyber-Ark solution that securely, manages and audits privileged identities and stores them in their award-winning digital vault.

"Compliance and the need to be accountable to internal and external auditors when they ask who has access to what information, and the need to be able to prove where that information has gone, has clearly been the driver behind the incredible success that Cyber-Ark has recently experienced," said Adam Bosnian, Vice President of Products, Strategy and Sales for Cyber-Ark.

"Revenues are up 85% compared with this time last year and more than100 new global customers have recently bought the EPV product - with Gartner's prediction that in 2008 40% of all enterprises will buy a tool like Cyber-Ark's Enterprise Password Vault as a means to manage shared accounts and service accounts, the future for Cyber-Ark and the Cyber-Ark channel partners looks very exciting," added Bosnian.

The New Global Partner Program provides co-operative funding, financial incentives, marketing tools, public relations support, certification and technical and sales training for the different types of partners. There are four distinct levels of partners: Certified, Total Identity, MSP and System Integrators - all of whom will be supported by the new Partner Program Initiative.

Chameleon, a UK channel partner, has already enjoyed huge success from selling Cyber-Ark's suite of products, and after seeing their business grow 300% has decided to dedicate its sales force to selling 100% Cyber-Ark products.

"We've never seen such an appetite for a product like this from major corporations and banking organizations," said Lloyd Conway, Sales Director at Chameleon. "It's been great for us, as it has enabled us to cross-sell opportunities from the Cyber-Ark suite of products, plus sell consultancy and training. The market has been saturated with the likes of other conventional IT security products, and identity management is really today's major issue."

Demand for the Cyber-Ark products has enabled Chameleon to grow very quickly from four sales staff to 15 in under a year and they were recently awarded UK Reseller of the Year at this month's Cyber-Ark customer and partner meeting in Boston.

Canadian IT services firm Conexsys Communications, which was recognized with the North American Partner of the Year Award, is already helping Cyber-Ark to increase its presence in North America and drive new sales volumes in the region.

"Whether considering the realms of Application Identity Management specifically or Privileged Identity Management in general, EPV 4.5 represents the new standard for enterprises in terms of securing, managing and controlling their most powerful accounts and passwords," said Adam Bosnian. "It is this kind of aggressive response to market needs that has made Cyber-Ark the number one choice of enterprises and partners around the world for securing privileged identities."

What's New in EPV 4.5?

Enterprise Password Vault 4.5 delivers significant enhancements in terms of managing all types of privileged identities, such as:

• Automating the management of security and workflow policies related to privileged accounts and passwords
• Streamlining the process of auditing and monitoring privileged account usage
• Delivering additional enterprise-ready functionality with enhanced audit and monitoring capabilities, ticketing system integration, and support for more devices than ever before

In terms of application identities, EPV 4.5 also offers:

• Plug-and-play support for removing application server passwords in WebSphere and Weblogic application servers
• Performance and high-availability enhancements to support the unique needs of distributed application accounts

For more information about the new global partner programme or EPV 4.5, please visit www.cyber-ark.com, www.cyber-ark.com/epv45.asp or contact Kim Baker at 978-474-1900 today.

About Cyber-Ark

Cyber-Ark™ Software is the leading provider of Privileged Identity Management (PIM) solutions for securing privileged user accounts and highly-sensitive information across the enterprise. Long recognized as an industry innovator for its patented Vaulting Technology™, Cyber-Ark's digital vault products include: The Enterprise Password Vault™ for the secure management of administrative, application and privileged user passwords; the Inter-Business Vault™, a secure infrastructure for cross-enterprise data exchange of highly-sensitive information, and the Sensitive Document Vault™ for secure storage and management of highly-sensitive documents. Cyber-Ark's Vaulting platform has been tested by ICSA Labs, an independent division of Cybertrust and the security industry's central authority for research, intelligence, and certification testing of security products. Cyber-Ark's award-winning technology is deployed by more than 300 global customers, including 100 of the world's largest banks and financial institutions. Headquartered in Newton, MA, Cyber-Ark has offices and authorized partners in North America, Europe and Asia Pacific. For more information, visit www.cyber-ark.com