This is technology M&A deal number 1,023 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
AlgoSec Acquires Prevasio for Cloud Security
AlgoSec, founded in 2004, is based in Ridgefield Park, New Jersey. The company has 476 employees listed on LinkedIn. AlgoSec’s areas of expertise include network security, network security policy management, auditing and compliance, risk management, security change management, application connectivity management, firewall policy management, cloud security, hybrid cloud security, PCI DSS, microsegmentation, cybersecurity, cloud security, Cisco ACI, security management, compliance and application connectivity security.
Prevasio, founded in 2020, is based in Menlo Park, California. The company has seven employees listed on LinkedIn. Prevasio is a startup that developed a SaaS cloud-native application protection platform (CNAPP) that includes an agentless cloud security posture management (CSPM) platform, anti-malware scan, vulnerability assessment and dynamic analysis for containers. The solution includes artificial intelligence (AI) capabilities created by Stanford Research Institute International (SRI).
The acquisition will expand AlgoSec’s customer base and expand its portfolio of cloud security solutions, the companies said. Going forward, the seller will operate as Prevasio, an AlgoSec company.
AlgoSec Acquires Prevasio: Executive Insight
Yuval Baron, AlgoSec CEO, commented on the news:
“Applications are the lifeblood of organizations. As such, our customers have an urgent need to effectively secure the connectivity of those applications across cloud and hybrid estates to avoid unpleasant surprises. With Prevasio, organizations can now confidently secure their cloud-native applications to increase organizational agility and harden security posture.”