Akamai to Acquire API Security Startup Noname for $450 Million

Akamai Technologies, Inc. is determined to construct Noname Security, a top API safety dealer, for $450 million, signaling a serious transfer to take dangle of its API safety capabilities.

This acquisition marks a pivotal moment in the cybersecurity panorama, as Akamai targets to lengthen its protection across all API traffic areas, addressing the rising demand for entire API safety solutions.

Founded in 2020 and based fully fully in San Jose, California, Noname Security fleet rose to prominence in the API safety sector, achieving unicorn space in 2021 with a valuation of $1 billion.

With out reference to selling for under half of of its final non-public funding round valuation, Noname’s integration into Akamai’s portfolio is anticipated to present a take dangle of to Akamai’s existing API Security resolution tremendously. The deal is anticipated to shut in the second quarter of 2024, self-discipline to customary closing conditions.

Akamai’s acquisition of Noname comes because the utilization of APIs continues to enhance, utilizing a corresponding enhance in safety dangers. “Functions go our world, but as applications and customers proliferate, so carry out safety dangers,” mentioned Mani Sundaram, Executive Vice President and Total Supervisor of the Security Skills Community at Akamai Technologies.

Akamai’s fill recordsdata has shown a 109% 12 months-over-12 months enhance in API assaults, underscoring the extreme want for mighty API protection.

Noname Security’s CEO and co-founder, OuncesGolan, highlighted the synergy between the two firms, stating, “API pattern continues to enhance as customers prioritize their investments in software program modernization and digital transformation initiatives. By combining Noname with Akamai’s API Security offering, we can provide a resolution for any form of purchaser. With out reference to where their applications will seemingly be found – be it in the cloud, on the sting, on-premise, or on other dealer platforms – they’ll be protected.”

The acquisition is anticipated to grunt approximately $20 million in income for the fiscal 12 months 2024 for Akamai and would possibly maybe maybe perchance perchance just peaceful research Noname’s better than 200 workers, alongside side Golan, be part of Akamai’s Security Skills Community.

This transfer is determined to enable Akamai to rep a complete API safety suite, bettering its ability to hunt “shadow” APIs, detect vulnerabilities and assaults, and provide better deployment selections for purchasers across all environments.

Akamai expects the transaction, which is self-discipline to customary closing conditions, to shut in the second quarter of 2024. The corporate projects Noname will make contributions approximately $20 million in income for fiscal 12 months 2024.

Akamai’s strategic acquisition of Noname Security underscores the corporate’s dedication to main the payment in API safety, offering developers and safety operations teams with the instruments desired to title and mitigate vulnerabilities in an more and more advanced digital panorama.