Akamai Technologies has entered into a definitive agreement to acquire application programming interface (API) security company Noname Security.
Akami says the acquisition will improve its existing API security solutions and accelerate its ability to meet growing customer demand and market requirements. Akamai also expects to gain greater scale with Noname’s additional sales and marketing resources and established channel and alliance relationships
Under the agreement’s terms, Akamai has agreed to acquire all of Noname’s outstanding equity for approximately AUD684 million after customary purchase price adjustments. The transaction, which is subject to customary closing conditions, is expected to close in the second quarter of 2024.
As a result of the acquisition, Akamai expects to offer a complete API security suite enabling customers to better discover “shadow” APIs and detect vulnerabilities and attacks. Akamai’s enhanced offering will likely offer customers greater deployment choices and access to a portfolio of technology integrations. Akamai also plans to integrate Noname for use by customers of Akamai’s Application and API platform shortly after the acquisition is closed.
“Applications run our world, but as applications and users proliferate, so do security risks,” said Akamai’s Mani Sundaram. “Akamai has seen a growing need for API protection, with our data showing 109% year-over-year growth in API attacks. With the addition of Noname, Akamai believes it will have the breadth of integrations and deployment choices needed to deliver comprehensive API protection for customers across all environments.”
“Combining Noname with Akamai’s API Security offering will provide a solution for any type of customer,” said Noname Co-founder and CEO Oz Golan. “No matter where the customer’s applications reside, be it in the cloud, natively on the edge, on-premise, or on other vendor platforms, they will be protected.”
California-headquartered Noname is a privately funded company with over 200 employees. Those employees, along with Golan, are expected to transfer to Akamai.
