Akamai Technologies announced today its definitive agreement to acquire Noname Security for $450 million. The acquisition is expected to enhance Akamai's existing API Security solution, enabling comprehensive protection for customers across all environments. The addition of Noname Security is aimed at meeting the increasing demand for API protection, with Akamai experiencing a 109% year-over-year growth in API attacks.
Noname Security was previously valued at $1 billion, according to their last Series C funding round of $135 million, closed in 2021. Investors in the startup include Georgian, Lightspeed, Insight Partners, Cyberstarts, Next47, Forgepoint, and The Syndicate Group (TSG).
Akamai now plans to offer a complete API security suite, enabling customers to better discover "shadow" APIs, detect vulnerabilities, and prevent attacks. The pending integration into Akamai's Application and API platform is planned shortly after the acquisition is finalized. Akamai anticipates gaining greater scale and access to a portfolio of technology integrations that are unrivaled in the market, enhancing deployment choices for customers.
Subject to customary purchase price adjustments, the transaction is expected to close in the second quarter of 2024. The startup's +200 employees are expected to join Akamai's Security Technology Group.
The startup was founded in 2020 by Oz Golan, Shay Levi, who has already opened a new cyber security startup, Unframe AI.
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Noname's acquisition notches up the Israeli portfolio of Akamai Technologies to four, adding to their previous acquisitions of Neosec, Guardicore, and ChameleonX.
