Symantec Corporation of America has made its second acquisition of this month official by disclosing to the media that it is acquiring Mobile Security Vendor Skycure for an undisclosed amount. As of now, terms of the deal are not disclosed. But sources reporting to Cybersecurity Insiders claim that Symantec could purchase the Tel Aviv-based Skycure for $20 million.
Apparently, the California-based security firm plans to boost its mobile security business for both enterprise and consumer clients with the Skycure acquisition.
Skycure has so far offered agent-based security software for iOS and Android Devices that interact with the cloud security services and provide intrusion detection & prevention capabilities to corporate BYOD environments. Technically speaking, behavioral analysis is used by the software to detect threats and is designed to offer proactive measures to users as soon as it detects suspicious activity.
In a media interaction held on a recent note, Symantec CEO Greg Clark said that his company is planning to integrate Skycure’s offering with Symantec’s Integrated Cyber Defense Platform. This will help Symantec partners and customers address an increasing concern around mobile device security by ensuring that devices in BYOD environments remain risk-free when connecting to corporate networks.
And with the acquisition of Skycure, Symantec’s intentions are very clear. The security software providing company wants to invest in emerging technologies in order to expand its endpoint security architecture through its Cybersecurity Venture Capital Arm.
Note- Symantec is planning to partner with the world’s leading telecommunication companies which are looking to provide mobile security to their end users. For this reason, the security giant is on a buying spree of tech startups related to mobile security.