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Akamai dishing up over £200m for security firm Prolexic

BusinessNews
by Angela Moscaritolo, 03 Dec 2013News
Akamai dishing up over £200m for security firm Prolexic

Akamai Technologies this week announced it has agreed to buy Prolexic Technologies for about $370 million (£226 million) in cash to bolster its cyber-security offerings.

Prolexic offers cloud-based security solutions for protecting data centres and enterprise IP applications from distributed denial of service (DDoS) attacks, which leverage large numbers of compromised PCs to flood a website with traffic and knock it offline. Akamai said the acquisition will allow it to offer a complete portfolio of enterprise security solutions for defending against application, network, and data centre attacks delivered over the Internet.

Akamai CEO Tom Leighton said that all companies on the web today are facing an ever-evolving threat landscape, including attacks aimed at disrupting operations, defacing the brand, or attempting to steal sensitive data.

"By joining forces with Prolexic, we intend to combine Akamai's leading security and performance platform with Prolexic's highly regarded DDoS mitigation solutions for data center and enterprise applications protection," Leighton said. "We believe that Prolexic's solutions and team will help us achieve our goal of making the Internet fast, reliable, and secure."

Akamai said it offers solutions for defending websites and web applications against even the largest and most sophisticated DDoS and application-layer attacks. The firm combines DDoS mitigation solutions with security operations expertise to protect data centres and enterprise IP applications.

"Today, business is defined by the availability, security and latency of Internet-facing applications, data and infrastructure," Prolexic CEO Scott Hammack said in a statement. "Being able to rely on one provider for Internet performance and security greatly simplifies resolution of network availability issues and offers clients clear lines of accountability. We believe that, together, we will be able to deliver an unprecedented level of network visibility and protection."

The transaction is subject to customary closing conditions, including regulatory approvals. It deal is expected to close in the first half of 2014.

Prolexic earlier this year reported that the first quarter of 2013 was a "landmark quarter" for DDoS attacks.

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