Akamai Acquiring NeoSec – API Security Platform

Akamai has revealed that it has entered into an agreement to acquire Neosec, an API detection and response platform based on data and behavioural analytics.

Neosec’s API security solution will complement Akamai’s market leading application and API security portfolio by dramatically extending Akamai’s visibility into the rapidly growing API threat landscape. The combination is designed to make it easy for customers to secure their API’s by helping them discover all their APIs, assess their risk, and respond to vulnerabilities and attacks.

The complete business processes and related data has been controlled by the API’s which is critical to business function and digital transformation. With Neosec’s platform and Akamai’s application security portfolio will allow customers to gain visibility into all APIs, analyze their behavior and protect against API attacks.

The rapidly growing global market for API security solutions is driven by the proliferation of APIs and the associated increase in cybersecurity threats. API-based architectures and microservices are the core of every application developed today, from B2B to web and mobile applications, and therefore are a primary target for attackers.

The  regulatory compliance laws such as FFIEC, SOC, GDPR, HIPAA and PCI DSS require enterprises to strengthen their security measures on APIs.

Neosec, headquartered in Palo Alto, California and Tel Aviv, Israel, is a privately funded company. Its employees, including co-founder and chief executive officer, Giora Engel, and co-founder and chief technology officer, Ziv Sivan, are expected to join Akamai’s Security Technology business. The acquisition is fourth and expected to close in the second quarter of 2023.