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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.
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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