Open code software giant Elastic NV announced on Monday that the NYSE-listed company would be acquiring an Israeli cybersecurity startup Build.security established just last year, will serve as key location for engineering and security talent
Previously known as Elasticsearch, founded as an open-source search and analytics engine for data. The company built what it calls the Elastic Stack made up of Elasticsearch, Kibana, Beats, and Logstash software systems that allow users to search, analyze, and visualize their data. Elastic’s free and paid feature offerings are used by thousands of companies and agencies worldwide including Microsoft, NASA etc.
The company has noticed that users in the cybersecurity sphere were utilizing Elastic’s products for threat hunting and security investigations. This development led Elastic to acquire DC-based endpoint security company Endgame for over $200 million nearly two years ago. The acquisition allowed Elastic to provide security teams with a new tool for collecting and detecting security information and events.
Now, Elastic moved further into the cybersecurity world, with the intended acquisition of Israeli company Build.security, established in January 2020 as a cybersecurity startup by developers for developers, to allow organizations and enterprises in cloud-native environments to integrate authorization policy management right into their applications.
The terms of the acquisition, expected to be finalized later this year, were not disclosed.
Elastic will be vying for talent in a fiercely competitive market that is already seeing thousands of positions remaining open due to a shortage of workers, especially in developer roles.
Elastic employs over 2,000 people in more than 40 countries. The company has a market cap of over $14 billion.