Akamai Technologies to acquire Neosec
MASSACHUSETTS, UNITED STATES — Cloud company Akamai Technologies has agreed to acquire Neosec, an application programming interface (API) firm leveraging artificial intelligence (AI)-based behavioral analytics.
With headquarters in California and Israel, Neosec’s employees, including co-founder and CEO Giora Engel, and co-founder and chief technology officer Ziv Sivan, are anticipated to join Akamai’s Security Technology business.
“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,” explained Mani Sundaram, Akamai Technologies executive vice president and general manager for Security Technology Group.
The integration of API solutions is anticipated to position Akamai as a leading player in the rapidly developing field of API security, which is currently in high demand among customers.
APIs and cybersecurity concerns are driving the global demand for API security solutions. Attackers target API-based architectures and microservices since they form the foundation of all modern apps, from web and mobile.
The acquisition is expected to close in the second quarter of 2023. However, the terms of the deal were not disclosed.
A report said Akamai held cash and equivalents of US$1.4 billion as of Dec. 31, 2022. It added that the company shares traded lower by 0.18% at US$82.67 on April 19, 2023.
