Akamai Technologies is set to acquire Neosec, a platform that uses behavioral analytics to detect and respond to API threats.
This acquisition will complement Akamai’s existing application and API security portfolio, enabling the company to gain more visibility into the API threat landscape. Financial details were not disclosed at present.
The acquisition is expected to close in the second quarter of 2023 and is anticipated to be slightly dilutive to non-GAAP EPS by approximately $0.04 to $0.06 for the fiscal year 2023, without adding any material revenue.
The market for API security solutions is growing rapidly, driven by the proliferation of APIs and the increasing cybersecurity threats. Regulatory compliance laws such as FFIEC, SOC, GDPR, HIPAA, and PCI DSS also require enterprises to strengthen their security measures on APIs.
Neosec is unique among API security providers due to its complete visibility into all API activity and its use of behavioral analytics that detect threats that others miss.
The employees of Neosec, including its co-founders and CEO and CTO, are expected to join Akamai’s Security Technology business.
