Akamai Completes Acquisition of API Security Company Noname

Rhea-AI Summary

Akamai Technologies (NASDAQ: AKAM) has completed its acquisition of Noname Security, an API security company, for approximately $450 million.

This acquisition, initially announced on May 7, 2024, aims to enhance Akamai's capabilities in API security, addressing the growing market demand for robust API protection.

Noname Security's strong market position will help Akamai extend its protection across all API traffic locations and expand its sales and marketing resources. Additionally, Akamai will benefit from Noname's established channel and alliance relationships.

Positive

• Akamai completes acquisition of Noname Security for $450 million.
• Enhanced ability to meet growing customer demand for API security.
• Expansion of protection across all API traffic locations.
• Increased scale through Noname's sales and marketing resources.
• Benefit from Noname's established channel and alliance relationships.

Negative

• None.

News Market Reaction – AKAM

-0.55%

1 alert

-0.55% News Effect

On the day this news was published, AKAM declined 0.55%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CAMBRIDGE, Mass., June 25, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announces the company has completed its acquisition of application programming interface (API) security company, Noname Security. On May 7, Akamai announced an agreement between the two parties for Akamai to acquire the company in exchange for approximately $450 million.

Noname, one of the top API security vendors in the market, is expected to accelerate Akamai's ability to meet growing customer demand and market requirements as the use of APIs continues to expand. Specifically, Akamai will be able to extend protection across all API traffic locations, no matter the business, integration, or deployment requirements customers may have. Akamai also expects to gain greater scale with Noname's additional sales and marketing resources, and established channel and alliance relationships.

For more information, visit the Akamai application and API security page and the Akamai blog.

About Akamai

Akamai powers and protects life online. Leading companies worldwide choose Akamai to build, deliver, and secure their digital experiences — helping billions of people live, work, and play every day. Akamai Connected Cloud, a massively distributed edge and cloud platform, puts apps and experiences closer to users and keeps threats farther away. Learn more about Akamai's cloud computing, security, and content delivery solutions at akamai.com and akamai.com/blog, or follow Akamai Technologies on X, formerly known as Twitter, and LinkedIn.

Contacts:

Gina Sorice
Media Relations
646-320-4107
gsorice@akamai.com

Mark Stoutenberg
Investor Relations
857-227-4491
mstouten@akamai.com   

View original content to download multimedia:https://www.prnewswire.com/news-releases/akamai-completes-acquisition-of-api-security-company-noname-302181367.html

SOURCE Akamai Technologies, Inc.

FAQ

When did Akamai complete its acquisition of Noname Security?

Akamai completed its acquisition of Noname Security on June 25, 2024.

What is the significance of Akamai acquiring Noname Security?

The acquisition allows Akamai to enhance its API security capabilities, meeting growing market demand and extending protection across all API traffic locations.

How much did Akamai pay for the acquisition of Noname Security?

Akamai paid approximately $450 million for the acquisition of Noname Security.

What benefits does Akamai expect from Noname Security's acquisition?

Akamai expects to gain increased scale with Noname's sales and marketing resources and benefit from established channel and alliance relationships.

What market demand is Akamai addressing with the acquisition of Noname Security?

Akamai is addressing the growing market demand for robust API security solutions.