Shortly after the gigantic security breach that affectedmillions of its users, Facebook is considering the acquisition of a major cybersecurity company. This move may be seen as a step Facebook is taking to improve their defenses and heal their reputation.
According to The Information, the social media has approached several security firms about a possible acquisition. It appears that four people are familiar with the matter, although neither of them would identify the companies as discussions are still underway. It is highly likely that a deal could happen by the end of 2018.
The decision of such an acquisition comes shortly after the disclosure of a serious security breach that affected millions of users due to a vulnerability. The company is hoping that the acquisition of a security firm might soften the public’s opinion. Hence, Facebook has formed a team of people inside its corporate development department to research cybersecurity companies for possible acquisition. There still hasn’t been an official statement on the matter.
Facebook Has Already Acquired Several Cybersecurity Firms
PrivateCore was acquired by the social media in 2014. The company makes secure server technology that guards servers from malware or unauthorized access. The exact price of the acquisition wasn’t revealed, but PrivateCore had raised $2.3 million in venture capital prior to the event.
It is safe to assume that Facebook is currently looking into acquiring software companies that could be implemented in their own systems. this may include tools to flag unauthorized access. The Information reported that such companies are Demisto, JASK and Swimlane, each of which are privately held and would likely cost somewhere in the hundreds of millions of dollars.
Facebook may also be looking for technology that could help users keep their accounts as secure as possible, or add advanced privacy features. Companies in this category are ZeroFOX and SafeGuard Cyber, both of which help assess accounts for risk of attack. They could also prevent attacks. ZeroFOX has raised more than $80 million to date and SafeGuard Cyber – $14.9 million.