Akamai Technologies entered into an agreement to purchase API security company, Noname Security. Noname is expected to enhance Akamai’s existing API security solution, accelerating its ability to meet growing customer demand and market requirements as the use of APIs continues to expand. Akamai also expects to improve its scale with Noname’s additional sales, marketing resources and established channel and alliance relationships.
“Applications run our world, but as applications and users proliferate, so do security risks,” said Mani Sundaram, EVP and GM, security technology group, Akamai Technologies. “Akamai has seen a growing need for API protection with our own data showing 109% year over year growth in API attacks. 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.”
As a result of the acquisition, Akamai expects to offer a complete API security suite that allows customers to better discover “shadow” APIs, plus detect vulnerabilities and attacks. Akamai’s enhanced offering expects to have greater deployment choices for customers and access to a portfolio of technology integrations. Akamai also plans to integrate Noname for use by customers of Akamai’s application and API platform shortly after the acquisition is closed.
“API development continues to proliferate as customers prioritize their investments in application modernization and digital transformation initiatives,” said Oz Golan, CEO and co-founder, Noname. “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-premise, or on other vendor platforms – they will be protected.”
Under the terms, Akamai will buy all outstanding equity in Noname for $450 million. The transaction is expected to close in Q2.
Noname is a private company with over 200 employees. They are expected to join Akamai’s security technology group.
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