Priya Patel
TLDR: Akamai to Acquire Noname Security for $450 Million
Key Points:
- Akamai is set to acquire API protection startup Noname Security for $450 million.
- Noname Security, a unicorn company, raised $220 million in funding and is a top API security vendor.
In a strategic move, cloud and security giant Akamai has announced its plans to acquire Noname Security, an API protection company based in San Jose, California. Noname Security, which reached unicorn status in 2021 and has raised $220 million in funding, will enhance Akamai’s API security offering by expanding it to meet customer demands and market requirements. The acquisition, expected to close in the second quarter of 2024, will see Akamai paying approximately $450 million for all outstanding equity of Noname.
The acquisition will enable Akamai to provide a complete API security suite, including protection for shadow APIs, vulnerability detection, and attack prevention. Noname’s integration into Akamai’s Application and API platform will benefit customers by enhancing their security across various application environments.
Noname Security, with over 200 employees, including CEO Oz Golan, will join Akamai after the completion of the deal. Golan expressed that the combination of Noname with Akamai’s API Security offering will provide a comprehensive solution for customers regardless of where their applications are hosted.
By bringing together the strengths of both companies, the acquisition of Noname Security by Akamai is anticipated to strengthen Akamai’s position in the API security market and deliver increased value to customers.
