Akamai Technologies is acquiring Neosec, an API detection and response platform and a portfolio company of TLM Partners, for an undisclosed amount.
This is technology M&A deal number 107 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2022, 2021, and 2020 listed here.
Akamai Acquires Neosec for API Detection and Response
Akamai Technologies is a heavy hitter in the cloud industry based in Cambridge, Massachusetts. The company has over 8000 employees listed on LinkedIn. Akamai’s areas of expertise include Edge Security, Web and Mobile Performance, Enterprise Access, and Video Delivery Solutions.
Neosec, founded in 2021, is based in Palo Alto, California. The company has 47 employees listed on LinkedIn. Neosec’s areas of expertise include security and threat detection, specifically through the use of behavioral analytics to understand normal versus abnormal API usage and then provides threat-hunting capabilities.
The deal comes a little over a week after the company announced an update to its flagship partner program.
Neosec's API security solution will complement Akamai's market leading application and API security portfolio by dramatically extending Akamai's visibility into the rapidly growing API threat landscape, the company said.
The company believes that the combined API solutions will put Akamai at the forefront of a critical emerging category of API security for which customers are actively seeking support. APIs are at the center of every application developed today and have become a primary target for malicious actors. Because of that, regulatory compliance laws have emerged that require enterprises to strengthen their security measures on APIs.
Akamai Acquires Neosec: Executive Insight
Mani Sundaram, executive vice president and general manager, Security Technology Group, Akamai Technologies, commented:
"With rapidly accelerating digital transformation, APIs are the new frontier for digital business and the enablement of critical business functions. 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."
Giora Engel, co-founder and CEO, Neosec, said:
"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. Ultimately, Akamai customers will have a better view into all of their API activity, to identify vulnerabilities and threats before they are exposed, and detect attacks in runtime."
Neosec's employees, including co-founder and CEO, Giora Engel, and co-founder and chief technology officer, Ziv Sivan, are expected to join Akamai's Security Technology business.
