Akamai to acquire Noname Security, bolstering API security solutions

Akamai Technologies intends to acquire Noname Security, a leading Application Programming Interface (API) security company. This acquisition will bolster Akamai's existing API security solution and directly address the growing market demand for secure API applications, one of the most crucial areas within the digital economy.

Following this acquisition, the American tech giant is anticipated to offer a comprehensive API security suite to its customers. This suite will enable clients to effectively uncover "shadow" APIs and accurately identify vulnerabilities and potential security threats. As a result of this expanded suite, Akamai clients are expected to benefit from a wider range of deployment choices and access to an unrivalled portfolio of cutting-edge technology integrations.

Mani Sundaram, Executive Vice President and General Manager of the Security Technology Group at Akamai, commented: "Applications run our world, but as applications and users proliferate, so do security risks. 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."

Providing further comment, Oz Golan, CEO and co-founder of Noname Security, said: "API development continues to proliferate as customers prioritise their investments in application modernisation and digital transformation initiatives. Combining Noname with Akamai's API Security offering will provide a solution for any type of customer. 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."

Akamai has agreed to acquire all outstanding equity of Noname for an approximate total of $450m, after standard purchase price adjustments, with the transaction closure expected in the second quarter of 2024. This acquisition, combined with the integration of Noname's over two hundred employees into Akamai's Security Technology Group, forms a strategic expansion of Akamai's in-house expertise, optimising readiness to meet future challenges in the dynamic and rapidly evolving field of online security.

Furthermore, the integration of Noname within Akamai's Application and API platform is planned shortly after the acquisition's conclusion, signalling an anticipated near-term enhancement of Akamai's already considerable security offerings.