AKAM - Akamai Technologies to buy API security firm Neosec

2023-04-19 07:12:40 ET

• Akamai Technologies ( NASDAQ: AKAM ) has agreed to acquire API detection and response platform, Neosec.
• Terms of the deal were not disclosed. The transaction, expected to close in the second quarter of 2023, is anticipated to be slightly dilutive to non-GAAP EPS by around $0.04 to $0.06 and is not expected to add any material revenue in the fiscal year 2023.
• Headquartered in Palo Alto, California and Tel Aviv, Israel, Neosec is a privately funded company that offers an API detection and response platform based on data and behavioral analytics.
• The platform will complement Akamai's application and API security portfolio by significantly extending its visibility into the rapidly growing API threat landscape.
• Neosec's employees, including co-founder and CEO, Giora Engel, and co-founder and chief technology officer, Ziv Sivan, are expected to join Akamai's Security Technology business as part of the deal.

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