SECURITY
Symantec to acquire mobile cybersecurity startup Skycure
PAUL SAWERS@PSAWERS JULY 11, 2017 6:44 AM
Security software giant Symantec is continuing its recent spate of acquisitions with the news that it plans to buy U.S / Israeli cybersecurity company Skycure. Terms of the deal were not disclosed.
Founded in 2012, Skycure specializes in predicting, detecting, and preventing a range of attacks, including malware, network, and vulnerability exploits. More specifically, the company focuses on mobile threat defence (MTD), which is particularly crucial to enterprises in an age where “bring your own device” (BYOD) policies are increasingly commonplace. Indeed, the line between personal and professional IT equipment has blurred, meaning companies need to be extra watchful for security threats.
And this is why Symantec — a stalwart figure in the online security space — is buying Skycure. The company said that it plans to integrate Skycure’s predictive threat detection smarts into its own enterprise- and consumer-focused mobile products, including Norton Antivirus.
“One of the most dangerous assumptions in today’s world is that iOS and other mobile devices that employees bring into the office are safe, but the apps and data on these devices are under increasing attack,” explained Symantec CEO Greg Clark, in a press release. “We believe that tomorrow’s workforce will be completely mobile and will demand a cyber defense solution that travels with them. Mobile is a core component of our strategy and the acquisition of Skycure is a major step forward in executing it.”
Symantec is no stranger to cybersecurity acquisitions — just last week it bought Fireglass, an Israeli startup that helps thwart malware and phishing attacks. And last year it acquired identity theft protection company LifeLock for $2.3 billion, shortly after the even chunkier $4.65 billion acquisition of web security company Blue Coat Systems.
Both the consumer and business worlds are shifting further toward a mobile-first ethos, which is why Symantec is now doubling down on its efforts to promote its security credentials on Android and iOS.
“The promise of a mobile threat defense that comes from a combination like Skycure and Symantec is compelling,” added Clark. “As we look ahead, we believe the future is mobile-first and requires protection levels that single platform vendors will struggle to provide on their own. Our investments in this area will bring defense-in-depth across platforms, including closed operating systems.”
In terms of what this means for existing Skycure customers, a Symantec spokesperson told VentureBeat that no changes or service disruptions should be expected, though they did suggest that it would only be available as part of Symantec’s broader product offering in the future. The statement read:
Skycure solutions will be available to their customers and should not expect any changes or disruption to their service. We expect Skycure’s technology to be integrated with Symantec’s solutions and available to Skycure customers soon after the transaction closes, which we expect will occur in the second fiscal quarter of 2017.
Skycure had raised around $28 million in funding prior to this acquisition.
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