Imperva, the cybersecurity company, announced on Monday that it plans to acquire API security company CloudVector. The financial details of the deal have not been disclosed. Imperva says that the acquisition will help it accelerate its roadmap and give it more ground in the web app and API protection market.
According to Markets and Markets, the security orchestration, automation, and response segment will reach $1.68 billion this year. The growth is driven by a rise in security breaches and incidents and rapid deployment and development of cloud-based solutions.
The need for security
Data breaches exposed 4.1 billion records in the first half of 2019, according to a report by Risk Base Security. These numbers would explain why 68% of business leaders in a recent Accenture survey, said they felt like cybersecurity risks were on the rise.
CloudVector, which was founded in 2018, enables customers to discover, monitor, and protect API traffic in environments. The startup’s platform discovers APIs based on actual traffic, machine learning-assisted data classification, data exposure identification, and anomalous user and data activity detection.
CloudVector’s API and endpoint catalogs are computed dynamically and monitored continuously to help organizations secure shadow APIs.
Deployment of CloudVector’s microsensor architecture does not require API code change and can be added into DevOps CI/CD pipelines, to offer value.
CloudVector’s solution gives visibility and security for traditional public-facing APIs and modern microservices. The global API management market will be worth $5.1 billion by 2023. The reason is that over 80% of web traffic is API traffic, and it is increasingly under threat.
Imperva wants to position itself as the best solution for a problem this big. The deal is expected to close this month, according to the company.