Concept Searching has been acquired by Netwrix Corporation. Concept Searching will remain active in the metadata management, classification, and insight engine market, continuing to provide a range of solutions to clients. The terms of the transaction were not disclosed.
The relationship between the two companies developed in 2017, with Netwrix integrating a portion of Concept Searching’s technology into its Netwrix Auditor product. The technology integration and partnership were successful. As a result, Netwrix acquired Concept Searching to bring depth to the real-time identification and remediation of personal and sensitive information found within structured and unstructured data, both on-premises and in the cloud.
The acquisition will enable Netwrix to position itself in the data-centric audit and protection market (DCAP), with an integrated solution that detects and prevents exposures and has been proven to cut compliance costs by more than 50%.
“Concept Searching is excited about becoming a part of Netwrix. Merging our unique technology with its exceptional Netwrix Auditor product delivers a new level of protection to organizations concerned about data security, with the ability to identify and remediate personal or organizationally defined sensitive information, regardless of where it is stored or how it was ingested,” commented Martin Garland, President of Concept Searching.
“The expanded team will enable us to be even more agile, increasingly responsive to our clients’ needs, and to deliver a platform for growth to both client bases and ensure we maintain our leadership position in delivering world-class metadata-driven solutions,” Garland concluded.
“The acquisition of Concept Searching is a natural next step for our organization, enabling us to provide our customers with even more contextual awareness to protect business-critical data and prioritize their security efforts,” said Steve Dickson, CEO of Netwrix.
Concept Searching’s conceptClassifier platform remains the technology for managing unstructured, semi-structured, and structured content. Utilizing Concept Searching’s compound term processing for concept extraction, the classification and taxonomy management technologies deliver the solution for organizations seeking to utilize their knowledge assets. The platform delivers the statistical multi-term metadata generation, auto-classification and taxonomy management solution, regardless of environment or data storage location.