California based Security Management Company Exabeam has made it official that it is going to acquire Israel based Cloud Security startup SkyFormation for an undisclosed amount. Exabeam plans to integrate the technology of SkyFormation into its Security Information and Event Management (SIEM) products to supplement its market growth.
Although cloud computing technology has dominated in recent years, most of the companies, especially those having a global presence are still using on-premises environments due to security concerns.
However, as cloud offers more communication, speed and collaboration to work environments it also helps in accelerating the productivity. So, those companies who are concerned about security are still showing disinterest in migrating to hybrid or pure cloud environments.
So, those offering SIEM services are turning their attention towards securing the cloud, so that they offer an all-comprehensive solution to their customers.
This is where Exabeam excels in its product offering as it will integrate the technology of newly acquired SkyFormation to reliably collect the log files from over 30 cloud service providers and will dump them into the Exabeam Data Lake to induce analytics or any other SIEM. Those security teams which lack coding skills might not worry as updates are made on an automated note to any/all API changes.
Note 1- Readers of Cybersecurity Insiders have to notify that the San Mateo based Exabeam has raised over $75 million in a Series E Funding in May this year taking the total tally of funding to $190 million.
Note 2- Exabeam launched its first SaaS cloud service in Feb this year and has also stepped into cloud security services with the September’18 launch of Exabeam Threat Intelligence Service.