Akamai Technologies acquired Neosec for $91.4 million, a transaction completed in May 2023, structured as all cash.
Neosec operates in Cloud Security (API security). Neosec, Inc. provided an API-security platform that discovers and audits APIs and monitors API activity using data and behavioral analytics to detect threats and abuse. Akamai acquired all of Neosec's equity in May 2023 for $91.4 million and used it to launch its API Security offering. (Value disclosed in Akamai's FY2024 Form 10-K, Note 8 - Acquisitions.)
Neosec enabled Akamai to offer API Security that discovers and audits APIs and monitors API activity, extending visibility into the rapidly growing API threat landscape.
Established Akamai's presence in the fast-growing API-security market. Complemented Akamai's application- and API-security portfolio. Akamai API Security
Advisory firms were not disclosed for this transaction.