What IBM Purchasing HashiCorp Means for Secrets Management

Hashi Leads in Secrets Management But Lags in Privileged Access. What's Next? Michael Novinson (MichaelNovinson) • April 25, 2024

Security might not be top of mind when thinking about HashiCorp, but IBM's $6.4 billion acquisition will have major implications for the privileged access market.

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Big Blue took a big bite out of the secrets management space with its proposed buy of San Francisco-based HashiCorp, which rivals CyberArk in its ability to authenticate and authorize access to sensitive data. The secrets management market is competitive; CyberArk and HashiCorp are going toe-to-toe from both a capabilities and pricing perspective, benefiting clients but hurting the vendor's bottom line.

"People know Hashi really well for their infrastructure management, but the security pieces of Hashi are also very, very interesting and really important as people navigate these very complex ...