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Revolutionizing Identity Security: Lumos and Fastgen

In a significant development for identity management, Lumos, a leader in the identity platform sector, has made headlines with its recent acquisition of automation technology from Fastgen, a promising low-code development platform backed by Y Combinator. This strategic move is more than just an acquisition; it's a transformative step that enhances Lumos's capacity to provide seamless identity solutions.

Unlocking New Capabilities in Identity Management

Lumos has established itself as a powerhouse in managing access to applications and data. The company's emphasis on visibility, intelligent controls, and full-cycle automation across the identity lifecycle is set to receive a significant boost with the integration of Fastgen’s advanced workflow builder. This enhancement aims to refine identity lifecycle management, identity threat detection and response, and optimize spend management capabilities.

By harnessing custom workflows, Lumos's clients can make data-driven decisions at a much faster pace, thereby reducing overall security risks and unnecessary expenses. This strategic alignment confirms Lumos's commitment to eliminating bottlenecks in app and identity management, ultimately empowering organizations to operate more effectively and constructively.

A Vision for the Future

Andrej Safundzic, CEO and Co-Founder of Lumos, expressed the vision behind this acquisition, stating, "By incorporating Fastgen's innovative technology, we are taking a significant leap forward in our mission to unlock access to all technology across both humans and machines. This aligns perfectly with our goal to eradicate app and identity management bottlenecks, saving time and decreasing software expenses for our clients.”

Fastgen’s CEO, Mike Mahlkow, reiterated the value of their technology, emphasizing that it will continue to contribute to efficiency on a global scale. Under the new arrangement, Fastgen aims to channel its resources into advancing AI-driven innovations, positioning itself as a leader in that space while enhancing Lumos's platform capabilities in the process.

Commitment to Innovation

This acquisition not only underscores the strength and utility of Fastgen's technology but also signals an exciting evolution in identity security solutions. As both companies strive to push the boundaries of what is possible, the collaboration exemplifies their shared commitment to rapid execution and innovation. Constantin Schreiber, Co-founder of Fastgen, noted, "This deal with Lumos validates the strength of our technology. We are thrilled to see it applied at Lumos at scale, reinforcing our joint commitment to innovation and swift execution."

The Impact on Security Solutions

Through this pioneering acquisition, Lumos secures its status as a leader in identity security. The enhanced solutions provided by this collaboration will empower organizations to streamline operations while ensuring robust safety measures against potential identity threats.

Although the financial specifics of the acquisition were not divulged, the implications are substantial. Organizations utilizing Lumos’s platform can look forward to improved efficiency, optimized spending, and enhanced security functionalities. By leveraging this new technology, Lumos is positioning itself to meet the evolving demands of modern businesses and offer comprehensive solutions to complex identity management problems.

Conclusion

The collaboration between Lumos and Fastgen signals a noteworthy moment in the identity management landscape. With a focus on innovation, efficiency, and security, this acquisition promises to redefine how organizations manage app and identity-related challenges, setting a new standard for the industry. For further details on Lumos and its transformative solutions, visit www.lumos.com.