New York based technology major International Business Machines Corporation has reportedly announced its acquisition of Spanugo, a global cybersecurity posture assurance company. The deal will provide the recently outlined IBM Cloud with an automation-based platform that eases compliance for numerous standards and regulations.
For the uninitiated, IBM is an American multinational tech company founded in 1911 by Charles Ranlett Flint. The company has its headquarters in Armonk, New York, and carries out its operations in over 170 countries. Its subsidiaries include Aspera, Red Hat Software, Trusteer, FileNet, and others.
As per sources, IBM intends to acquire the cybersecurity assurance provider Spanugo for building its cloud portfolio in the field of regulated industries. The company has stated that it aims to combine Spanugo’s technology with its public cloud with a view to allow customers to audit compliance.
For the record, Spanugo Inc., is known for enabling regulated industries to monitor compliance in real time. The platform is also effectively utilized for the deployment of reliable hybrid cloud services.
According to Dr. Vaidyanathan, the Co-founder and Chief Product Officer at Spanugo, Spanugo’s strong domain knowledge along with its security posture management experience is highly complementary to Big Blue’s public cloud offerings. He has also stated that this acquisition has provided the company with an opportunity to serve businesses across industries that demand verifiable and real-time cybersecurity posturing.
For over a year ago, IBM has been constantly working for the development of its financial services-ready public cloud. The company believes that the move to acquire Spanugo will strengthen its IBM cloud by enabling it to monitor compliance in real-time.
The particulars of the deal have not yet been disclosed.
Further, this is the fifth takeover of a cloud security posture assurance company since January 2019 following the recent $145 million acquisition of DivvyCloud by Rapid7.