Cybersecurity Merger Madness: Exabeam and LogRhythm’s Rocky Union Sparks Job Cuts and Legal Scrutiny

Exabeam and LogRhythm merge, resulting in a 30% workforce reduction, swift shareholder action, and legal scrutiny. The combined entity, led by former LogRhythm president Chris O’Malley, aims to revolutionize cyber security.

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Published: July 17, 2024 11:44 pmAdded: July 17, 2024 at 5:01 pmAssembled by: The Editor
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Hot Take:

When two sinking ships merge, does that make a submarine? Exabeam and LogRhythm certainly hope so, but it seems like they’ve already started to jettison crew members and investors before the maiden voyage.

Key Points:

  • Exabeam and LogRhythm have completed their merger, retaining the Exabeam name.
  • A significant 30% workforce reduction was announced post-merger.
  • Former LogRhythm president Chris O’Malley has taken over as CEO.
  • Exabeam’s former CEO Adam Gellar has stepped down with a substantial severance.
  • Legal and shareholder scrutiny surrounds the merger, with investigations ongoing.

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