IBM has made it official that it is going to acquire Cloud Security Posture Management Company Spanugo for an undisclosed amount. Trade analysts suggest that the deal was inked by the American Technology Giant to fulfill the compliance and security needs of its clients using its public cloud- especially those related to the financial industry.
While the financial details of the deal remain undisclosed, Spanugo says that its technology that helps in monitoring threats in real-time and other compliance issues will now be integrated into IBM’s Cloud to protect sensitive data and workloads.
In general, companies operating in the financial, healthcare, and insurance sector along with telecom need to process sensitive information and critical workloads as per the prevailing regulatory and compliance rules.
This is where the 2017 founded startup having 23 people as employees can help by efficiently demonstrating Cybersecurity compliance in real-time in the event of the audition.
After integrating the technology, IBM says that it will leverage encryption certification to provide multi-architectural support along with compensatory controls and automated security compliance to companies operating in the finance and healthcare field.
Note- In Oct’19, IBM announced that it had developed the world’s first financial services cloud that is ready to use for companies that are serving in the banking and insurance sector. The platform was built on IBM’s Public Cloud and has now started to host over 66 million key applications and workloads of its banking customers. Spanugo’s latest purchase aimed to boost the public cloud platform of IBM with security and compliance-related solutions.