Akamai Technologies (NASDAQ: AKAM), a Cambridge, MA-based cloud company that empowers and protect life online, acquired Noname Security, a San Jose, CA-based API security company, for approx. $450M.
The closing of the transaction, which is subject to customary closing conditions, is expected to occur in the second quarter of 2024. The acquisition will enable Akamai to extend protection across all API traffic locations, no matter the business, integration, or deployment requirements. Noname will enhance Akamai’s existing API Security solution and accelerate its ability to meet customer demand and market requirements as the use of APIs continues to expand. Akamai also expects to gain greater scale with Noname’s additional sales and marketing resources, and established channel and alliance relationships. Noname’s over 200 employees, including CEO and Co-founder, Oz Golan, are expected to join Akamai’s Security Technology Group.
For the fiscal year 2024, the acquisition is anticipated to deliver approximately $20m of revenue, be dilutive to non-GAAP operating margin by approximately 0.50%, and be dilutive to non-GAAP net income per diluted share by approximately $0.10.
FinSMEs
07/05/2024