Akamai Technologies will acquire Israel-based Guardicore for about $600 million to beef up its cloud security offerings and help businesses combat ransomware attacks.
The acquisition comes at a time when more businesses are turning to the cloud to run their operations and face frequent cyberattacks.
Guardicore specialises in software that helps to limit user access to only those applications that are authorised to communicate with each other.
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“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,” said Tom Leighton, chief executive officer and co-founder of Akamai.
Akamai said the deal, which is expected to close in the fourth quarter of 2021, would provide between $30 million and $35 million in revenue for the fiscal year 2022.