CAMBRIDGE, Mass., Dec. 19, 2016 /PRNewswire/ -- Akamai
Technologies, Inc. (NASDAQ: AKAM) today announced the Company has
acquired Cyberfend, an innovator in bot and automation detection
solutions for web and mobile environments, in an all cash
transaction. The acquisition is intended to further strengthen
Akamai's existing bot management and mitigation services.
Credential theft and abuse is a significant problem for online
businesses and their customers. Recent industry estimates place the
number of compromised user credentials (e.g. usernames, passwords,
email addresses) exfiltrated during major breaches and
currently in circulation in the billions. The value of these stolen
credentials can be worth as much as two to five times more than
basic credit card information.
Sophisticated credential abuse campaigns, which often take
advantage of several different attack vectors, attempt to use these
stolen credentials to log into a wide range of popular web and
mobile services including commerce, financial services, travel and
healthcare, among others.
Successfully detecting attacks utilizing stolen credentials can
be challenging as the credentials themselves are legitimate. In
addition, the attackers can hide within regular web and mobile user
traffic, attack during normal service hours and distribute attacks
from commonly used devices associated with millions of IP addresses
across multiple geographic regions.
"With the introduction of Bot Manager earlier this year, Akamai
helped change the way online businesses deal with the bots and
other automated agents that visit their sites," explained
Stuart Scholly, senior vice
president and general manager, Web Security, Akamai. "The addition
of Cyberfend's technology is intended to give our customers a
better way to spot and stop credential abuse on their sites –
benefitting both the online business and its users."
Through its acquisition of Cyberfend, Akamai plans to extend the
capabilities of the Company's innovative Bot Manager solution by
offering online businesses the technology required to effectively
distinguish between real customers and attackers, and limit
attackers' ability to avoid detection. The company believes that
Cyberfend's robust, machine learning-based real-time detection
capabilities – which are already in use on some of the world's most
heavily trafficked web properties – will be instrumental to Bot
Manager's continued differentiation as the solution that can best
meet complex customer requirements.
"Cyberfend is currently helping online businesses implement
highly effective strategies for dealing with credential abuse
attacks," stated Sreenath Kurupati,
co-founder and CEO, Cyberfend.
Company Co-founder Sridhar Machiroutu continued,"Adding the
scale and reach of Akamai's platform to Cyberfend's technology, and
complementing Akamai's Bot Manager solution with Cyberfend's
capabilities, creates an exciting value proposition for customers
worldwide."
Cyberfend, headquartered in Santa
Clara, California, is a privately funded company. The
acquisition is not material to Akamai's financials.
About Akamai
As the global leader in Content Delivery
Network (CDN) services, Akamai makes the Internet fast, reliable
and secure for its customers. The company's advanced web
performance, mobile performance, cloud security and media delivery
solutions are revolutionizing how businesses optimize consumer,
enterprise and entertainment experiences for any device, anywhere.
To learn how Akamai solutions and its team of Internet experts are
helping businesses move faster forward, please visit
www.akamai.com or blogs.akamai.com, and follow @Akamai on
Twitter.
Akamai Statement Under the Private Securities Litigation
Reform Act
The release contains information about future expectations,
plans and prospects of Akamai's management that constitute
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995, including statements regarding the expected benefits of the
acquisition of Cyberfend. Actual results may differ materially from
those indicated by these forward-looking statements as a result of
various important factors including, but not limited to, difficulty
in integrating Cyberfend's technology with Akamai's, lack of market
acceptance of the post-acquisition solutions, failure of Akamai's
network infrastructure, and other factors that are discussed in the
Company's Annual Report on Form 10-K, quarterly reports on Form
10-Q, and other documents periodically filed with the SEC.
Contacts:
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Rob Morton
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Tom Barth
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Media
Relations
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Investor
Relations
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617-444-3641
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617-274-7130
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rmorton@akamai.com
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tbarth@akamai.com
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SOURCE Akamai Technologies, Inc.