Web and mobile security company Akamai added to its expertise today after acquiring Cyberfend, a bot detection company. The terms of the deal were not disclosed.
Massachusetts-based Akamai, which went public on NASDAQ in 1999, aims to help banks and businesses protect their websites, mobile apps, and cloud environments. Akamai launched Bot Manager earlier this year to help thwart automated bots, which use stolen credentials to log into legitimate ecommerce and financial services websites.
Launched in 2014, California-based Cyberfend debuted BotFender, a cyber attack automation detection service, at FinovateSpring 2016. BotFender combines human cognitive science with machine learning algorithms to create a website security layer that is invisible to the end user and detects attacks in real time. Cyberfend is backed by Y-Combinator and protects 1 billion transactions every month.
Stuart Scholly, senior vice president and general manager of Web Security at Akamai, said, “The addition of Cyberfend’s technology is intended to give our customers a better way to spot and stop credential abuse on their sites—benefiting both the online business and its users.”
Cyberfend is Akamai’s third acquisition this year—after acquiring Concord Systems in September and Soha Systems in October—and its 16th acquisition since launching in 1998. As we reported earlier this year, Akamai is bolstering its security capabilities to become more appealing to potential, large acquirers, such as Google or Microsoft.
Akamai most recently presented at FinovateEurope 2015 in London where it debuted Client Reputation Service, designed to help FIs forecast security issues and protect against DDoS attacks, web attackers, screen scrapers, and scanning tools. The company is based in Cambridge, Massachusetts. Dr. Tom Leighton is CEO.