Image: © wolterke/Stock.adobe.com
Based in Massachusetts, Akamai Technologies has previously acquired Ireland’s Asavie to expand its global cloud and cybersecurity business.
Akamai Technologies announced today (7 May) that it has agreed to acquire Noname Security in a $450m deal to meet growing demand for API security.
Headquartered in San Jose, California, Noname is a privately funded company that specialises in the API (application programming interface) security market. It has more than 200 employees, who are all now expected to join Akamai, including CEO and co-founder Oz Golan.
“API development continues to proliferate as customers prioritise their investments in application modernisation and digital transformation initiatives,” said Golan.
“Combining Noname with Akamai’s API Security offering will provide a solution for any type of customer. No matter where the customer’s applications reside – be it in the cloud, natively on the edge, on-premises or on other vendor platforms – they will be protected.”
As part of the deal first revealed to be in discussion last month, Akamai has agreed to acquire all the outstanding equity of Noname for around $450m. The transaction is expected to close by the end of the second quarter of this year.
Mani Sundaram, executive vice-president and general manager of the Security Technology Group at Akamai, said that the company has seen a growing need for API protection with its own data showing a 109pc year-on-year growth in API attacks.
“Applications run our world, but as applications and users proliferate, so do security risks,” said Sundaram. “With the addition of Noname, Akamai believes it will have the breadth of integrations and deployment choices needed to deliver comprehensive API protection for customers across all environments.”
Headquartered in Massachusetts, Akamai pitches itself as a cloud company that “powers and protects life online” with its cybersecurity and cloud services.
In 2020, it acquired Irish company Asavie in an all-cash transaction to bring its mobile, internet of things and security solutions under Akamai’s security and personalisation services product line.
Find out how emerging tech trends are transforming tomorrow with our new podcast, Future Human: The Series. Listen now on Spotify, on Apple or wherever you get your podcasts.
