Akamai, a content delivery network provider, is set to acquire Neosec, an API security firm, in a bid to strengthen the company’s API security offering and protect clients’ critical business functions.
Akamai sees the mass adoption of global API security solutions as a reaction to growing cybersecurity threats and the increased popularity of APIs.
In this environment, customers are eager to access secure and reliable solutions that protect their data and services, the company said.
Mani Sundaram, executive VP and general manager of security technology group at Akamai, said: “Enterprises expose full business logic and process data via APIs, which, in a cloud-based economy, are vulnerable to cyberattacks. Neosec’s platform and Akamai’s application security portfolio will allow customers to gain visibility into all APIs, analyse their behaviour and protect against API attacks.”
Although the terms of the deal were not made public, the acquisition is set to close in the second quarter of 2023.
Akamai added that first quarter financial reports and 2023 financial guidance will aim to be provided at the company’s next earnings call in May.
Giora Engel, co-founder and CEO of Neosec, said of the acquisition: “What sets Neosec apart from other API security providers is the complete visibility into all API activity and the use of behavioural analytics that detect threats others miss.”
“Unlike other solutions, Neosec delivers rich, XDR-like API visibility combined with detection and response capabilities that enable full investigation and threat hunting.”
In March, Akamai announced its acquisition of cloud storage start-up Ondat. The company said it plans to integrate Ondat’s Kubernetes platform and storage technology into its edge services.
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