Pradeo, a leader in mobile fleet and application security, is set to acquire Yagaan, an application security software company based in France.
In 2021, the global mobile security market was valued at $3.96 billion and the global application security market was valued at $6.95 billion, with respective projections of +20.75 percent and +18.3 percent CAGR from 2021 to 2028.
Pradeo aims to expand its technology with a strategic component dedicated to the testing of applications’ source code.
Pradeo’s objective is to become the sole contact for CISOs, application developers, auditors, device manufacturers and other cybersecurity stakeholders for all issues related to the protection of mobile applications and associated web services, as well as smartphones and tablets.
“The adoption of Pradeo’s mobile security solutions by Fortune 500 companies is a clear endorsement of its implementation,” said Nicholas J. Baugh, Best Practices Research Analyst at Frost & Sullivan.
Created in 2017, Yagaan has 10 employees who will join the Pradeo team to bring its staff count to 60. Further hirings are planned by the end of the year to support the company growth. Yagaan teams will remain based in France.