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Akamai Technologies acquires Neosec to improve API security

Akamai Technologies acquires Neosec to improve API security

Akamai Technologies, a cloud and edge solutions provider, has announced its acquisition of Neosec, an API security company. The move is expected to bolster the company’s API security portfolio and help protect customers’ critical business functions.

Akamai says the rapid growth of the global API security solutions market is driven by the proliferation of APIs and an increase in cybersecurity threats. To meet the challenges of this continuously evolving threat landscape, customers seek secure and reliable solutions to protect their data, applications and services.

Commenting on the acquisition, Giora Engel, co-founder and chief executive officer of Neosec, says: “What sets Neosec apart from other API security providers is the complete visibility into all API activity and the use of behavioral 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.”

The acquisition will close in the second quarter of 2023. The terms of the deal were not disclosed. Akamai says it aims to provide first-quarter financial results and full-year 2023 financial guidance on its next earnings call on May 1, 2023.

Mani Sundaram, the executive vice president and general manager of Security Technology Group, Akamai Technologies, says, “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, analyze their behavior and protect against API attacks.”

Last month, Akamai revealed that it would acquire Ondat. This company specializes in cloud-native storage systems to enhance its Cloud Connected distributed platform. According to the company, Akamai intends to incorporate Ondat’s Kubernetes-native platform and persistent storage technology to bolster its edge cloud computing services.

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