CAMBRIDGE, Mass., Oct. 9, 2019 /PRNewswire/ -- Akamai Technologies,
Inc. (NASDAQ: AKAM), the intelligent edge platform for securing and
delivering digital experiences, today announces that the company
has entered into an agreement to acquire ChameleonX, an
Israel-based company with a unique
solution to protect websites from an increasingly publicized and
insidious form of attack that entails credit card skimming and user
credential theft via malicious or compromised third-party scripts.
The intended transaction is expected to further strengthen Akamai's
industry leading security portfolio.
As a leader in cloud and enterprise security solutions, and the
world's largest distributed edge platform, Akamai has unparalleled
visibility into internet threats, including emerging threat
vectors. That visibility has helped Akamai threat researchers to
detect and develop solutions to mitigate some of the top security
threats digital businesses face today. Efforts like these make it
more challenging for attackers to steal data because of the
improvements in application security technology that result from
the disclosures. As a result, attackers are exploiting a new path
to steal data: injecting malicious code into the user's browser.
ChameleonX's talented team and unique technical approach to this
emerging problem are expected to accelerate Akamai's ability to
detect and block these attacks.
"Protecting websites from malicious client-side code is an area
of paramount concern to customers, driven by significant,
persistent and effective attack activity over the last year that
has resulted in both detrimental incidents of data loss and fines,"
said Craig Adams, senior vice
president and general manager of Akamai's security and performance
business units. "Customers are looking for a trusted brand like
Akamai to address this problem with a reliable and scalable
solution that will better fortify their web properties and protect
their users."
"Injecting malicious code into the user's browser via third
parties evades typical detection and mitigation technology because
those solutions run either on the web server, or as a proxy between
the website owner and the end user - there are no controls in the
browser running on the user's device," said Maor Hod, CEO and
co-founder, ChameleonX. "ChameleonX technology detects this type of
attack in its early phases and stops it before significant damage
is done to the individual or the business."
The acquisition of the ChameleonX team and technology align with
Akamai's organic product development and global threat research to
deliver a solution that detects and blocks active attacks without
limiting the use of website technologies or impacting the customer
experience. The company has been recognized by Gartner as a Leader
in the 2019 Magic Quadrant for Web Application Firewalls (WAFs) for
the third year in a row. Akamai was cited as a Leader in The
Forrester New Wave™: Bot Management, Q3 2018 evaluation and cited
as a Leader in The Forrester Wave™: Web Application Firewalls, Q2
2018 evaluation. Akamai was also cited as a Strong Performer in The
Forrester Wave™: Zero Trust eXtended Ecosystem Providers, Q4 2018
evaluation, which stated: "Akamai is a powerhouse in the network
security space and has spent both time and resources in extending
its capabilities into other areas of security for clients. This
includes DDoS, botnet mitigation, malware protection, and
application microsegmentation capabilities".
ChameleonX, headquartered in Tel Aviv,
Israel, is a privately funded company. The acquisition is
expected to close in the fourth quarter of 2019; Akamai anticipates
no material impact to the company's financial results for 2019 or
2020.
About Akamai
Akamai secures and delivers digital
experiences for the world's largest companies. Akamai's intelligent
edge platform surrounds everything, from the enterprise to the
cloud, so customers and their businesses can be fast, smart, and
secure. Top brands globally rely on Akamai to help them realize
competitive advantage through agile solutions that extend the power
of their multi-cloud architectures. Akamai keeps decisions, apps
and experiences closer to users than anyone - and attacks and
threats far away. Akamai's portfolio of edge security, web and
mobile performance, enterprise access and video delivery solutions
is supported by unmatched customer service, analytics and 24/7/365
monitoring. To learn why the world's top brands trust Akamai, visit
www.akamai.com, blogs.akamai.com, or @Akamai on Twitter.
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 about expected revenue and other
benefits to Akamai from the acquisition. 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, inability to successfully integrate the personnel of
ChameleonX, failure to achieve expected post-closing financial
results, 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.
Media Relations
Gina
Sorice
(646) 320-4107
gsorice@akamai.com
Investor Relations
Tom
Barth
(617) 274-7130
tbarth@akamai.com
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SOURCE Akamai Technologies, Inc.