BeyondTrust

History

Symark

Symark was founded in 1985 as a VAX/VMS utility software company in Los Angeles' San Fernando Valley. Its name is derived from the initials of its founders, Bob Sommers and Doug Yarrow. Symark was also a client-server computing vendor, before later acquiring a license for the UNIX security product UPM (now owned by Quest Software) and rebranding their version PowerBroker. Symark relocated to Westlake Village, California, then again to Agoura Hills.

The company was focused on identity, access, and password management for privileged users on UNIX systems. From 2003—2008 the company expanded in Spain, Portugal, Japan and Latin America. During the same time period, they also grew by almost 300 percent and were one of the fastest growing private companies in the Los Angeles area.

The original BeyondTrust

In 2003, AutoProf introduced the AutoProf Policy maker, which was the first commercial product to build upon Microsoft's built-in Group Policy Objects to make common tasks like mapping network drives or sharing printer connections easier. In 2005, AutoProf grew 90% in revenue over the previous year and changed the company name to DesktopStandard. Four million desktops were under the management of DesktopStandard's software across 3,500 customers. From 2003 to 2005, DesktopStandard added six products to their portfolio for role-based access control (RBAC), password management, and identity access management on Windows. In 2006, Microsoft acquired most of DesktopStandard's products, and DesktopStandard's CEO formed a new company (BeyondTrust) around the remaining Policy Maker Application Security product.

Acquisitions

2009: Symark acquired the Windows-based business of BeyondTrust in 2009 for approximately $20 million and they adopted BeyondTrust as the new company name.

2011: BeyondTrust acquired software from Likewise Software.

May 2012: BeyondTrust acquired Vulnerability Management Pioneer eEye Digital Security.

December 2012: BeyondTrust acquired Blackbird Group.

September 2014: Veritas Capital acquired BeyondTrust for $310 million.

October 2018: Bomgar acquired BeyondTrust from Veritas.

Bomgar

Bomgar was a remote support provider that allows support technicians to remotely connect to end-user systems through firewalls from their computer or mobile device. Using the Bomgar Representative Console, technology support professionals can access and control systems and devices remotely, including personal computers, smartphones, tablets, servers, switches, point-of-sale systems and others.

The company originated when Joel Bomgaars developed his own remote support solutions to cut back on wasted hours he spent travelling while working as a support professional for a local company. In June 2003, he set up a one-page, static website selling his own, home-grown remote access solution, calling it ExpertVNC. Soon thereafter, his two college friends, Nathan McNeill and Patrick Norman, joined Bomgar as co-founders.

In May 2004, ExpertVNC changed its name to NetworkStreaming. In the next month it changed its cloud-based product to an appliance model, differentiating itself from other similar remote support solutions.

In February 2007, NetworkStreaming changes its company name to Bomgar, a simplified form of Joel Bomgaars' family name that he also chose to use professionally for himself.

Bomgar's first private equity investors, TA Associates, placed a majority investment in Bomgar in May 2014.

In April 2018, Francisco Partners announced that it acquired Bomgar from Thoma Bravo, which owned Bomgar since June 2016. Financial details of this deal were not disclosed.

Bomgar now operates under the name BeyondTrust.

Treasury Department hacking incident

Main article: 2024 United States Department of the Treasury hack

It was reported on December 30, 2024 that BeyondTrust was implicated in a hacking incident against the U.S. Treasury Department by state-sponsored Chinese hackers. According to the report, the hackers stole an API key for a remote support SaaS application from BeyondTrust and used it to compromise U.S. Treasury workstations, viewing unclassified documents in what was described as a "major incident".

References

References

1. By Steve Ragan, The Tech Herald. "{{usurped
2. By Doug Barney, Redmond Magazine. "[http://redmondmag.com/articles/2006/10/03/desktop-standard-bought-by-microsoft--mostly.aspx Desktop Standard Bought by Microsoft -- Mostly] {{Webarchive. link. (2011-04-11 . " October 3, 2006. Retrieved on August 28, 2009.)
3. By Andrew Ross, InformationAge. "[https://www.information-age.com/bomgar-beyondtrust-123475212 Bomgar completes acquisition of BeyondTrust] {{Webarchive. link. (2018-10-04 . " October 4, 2018.)
4. By Sean Michael Kerner, eWeek. "[https://www.eweek.com/security/bomgar-to-be-renamed-beyondtrust-after-acquisition-of-pam-vendor Bomgar to Be Renamed BeyondTrust After Acquisition of PAM Vendor] {{Webarchive. link. (2023-09-11 . " September 13, 2018.)
5. By Tim Wilson, Dark Reading. "[http://www.darkreading.com/risk/symark-buys-beyondtrust-takes-beyondtrust-name/d/d-id/1131929 Symark Buys BeyondTrust, Takes BeyondTrust Name] {{Webarchive. link. (2015-09-23 . " September 14, 2009.)
6. "PassGo Will Bring Quest Greater Multiplatform Capabilities".
7. (22 August 2017). "BeyondTrust PowerBroker Active Directory Tools for PCI/SOX/HIPAA Compliance".
8. By Alex Woodie, The Linux Beacon. "[http://www.itjungle.com/two/two052808-story09.html Symark Tackles Tough Access Control Problems] {{webarchive. link. (January 9, 2009 . " April 2, 2008.)
9. (2016). "Unix Privileged Identity & Access Management".
10. "Windows Server Hacks: AutoProf Policy Maker". O'Reilly.
11. Press Release. "[http://www.redorbit.com/news/technology/118396/autoprof_announces_record_year_revenue_growth/ AutoProf Announces Record Year Revenue Growth]. " January 12, 2005. Retrieved on August 28, 2009
12. Press Release. "[https://web.archive.org/web/20121026140118/http://www.highbeam.com/doc/1G1-127718323.html Article: AutoProf Announces Name Change and Releases Group Policy Security Product; DesktopStandard Corporation Provides Application-Level Security Product to Satisfy Regulatory Compliance Needs]. " January 26, 2005. Retrieved on August 28, 2009.
13. Montalbano, Elizabeth. (2006-10-02). "Microsoft buys DesktopStandard".
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15. By Jackie Noblett, Mass High Tech. "[http://www.masshightech.com/stories/2009/09/14/daily14-BeyondTrust-acquired-by-Symark.html BeyondTrust acquired by Symark] {{Webarchive. link. (2009-09-22 . September 14, 2009)
16. "BeyondTrust Acquires Assets Of Likewise Software To Expand Access Management Business".
17. "BeyondTrust Acquires Vulnerability Management Pioneer eEye Digital Security | Reuters".
18. Peacock, Marisa. (12 December 2012). "BeyondTrust Acquires BlackBird Group, Improves Enterprise Security".
19. Osborne, Charlie. (3 September 2014). "Veritas Capital snaps up security firm BeyondTrust for $310 million".
20. (13 September 2018). "Bomgar to be Renamed BeyondTrust After Acquisition of PAM Vendor".
21. "FAQs". Bomgar.
22. (June 21, 2010). "Bomgar Unveils FIPS-Compliant Remote Access Helpdesk Tool". darkReading.
23. Ohlhotst, Frank. (January 13, 2009). "Bomgar Offer an Appliance for All Remote Support Needs". ChannelInsider.
24. "BeyondTrust". Privco.
25. McNamara, Paul. "Company's new name has familiar ring". Network World.
26. (August 16, 2010). "Is There a Memorable Brand Hidden in Your Name?".
27. (December 23, 2010). "A New Brand Name Changed Everything".
28. "News {{!}} TA".
29. "Francisco Partners Acquires Bomgar {{!}} BOMGAR".
30. "Thoma Bravo Acquires Bomgar, Strengthens Security Software Portfolio {{!}} BOMGAR".
31. "Bomgar Is Now BeyondTrust".
32. Kerner, Sean. (2018-09-13). "Bomgar to Be Renamed BeyondTrust After Acquisition of PAM Vendor". eWeek.
33. (2024-12-30). "Treasury says Chinese hackers remotely accessed workstations, documents in 'major' cyber incident".
34. "What to know about string of US hacks blamed on China".
35. Shapero, Julia. (2024-12-30). "Chinese hackers breached Treasury Department, agency says".