The timing of the acquisition is at a time when more organisations are turning to the cloud to run their operations and are frequently targeted by threat actors.
Guardicore, based in Israel, will be acquired by Akamai Technologies Inc for around $600 million, the company announced on Wednesday, in order to expand its cloud security offerings and help organizations mitigate ransomware attacks.
The timing of the acquisition is at a time when more organisations are turning to the cloud to run their operations and are frequently targeted by threat actors.
Guardicore is a software company that specialises in limiting user access to only those applications that are authorized to communicate with one another.
Tom Leighton, Chief Executive Officer and Co-founder of Akamai, said “Given the recent surge in ransomware attacks and increasingly stringent compliance regulations, investing in technologies to reduce the spread of malware has become mission critical,”
According to Akamai, the deal which is slated to finalise in the fourth quarter of 2021, is expected to bring in between $30 million and $35 million in revenue for fiscal year 2022.