SIEM solution provider Exabeam announced their acquisition of SkyFormation. SkyFormation, based out of Israel, offers cloud application security; in fact, they boast the capability of collecting cloud logs from over 30 cloud services for SIEM logging and analysis.
At the time of this article, Exabeam has not disclosed the financial details of its acquisition.
SkyFormation is Exabeam’s first ever acquisition. According to CEO Nir Polak, Exabeam plans to fully integrate SkyFormation by establishing a new Israeli office around the SkyFormation team.
In a press release, Exabeam describes how they plan to use the SkyFormation acquisition to supplement their cloud security capabilities and solutions.
Exabeam successfully raised $75 million in a Series E funding round in May of this year; to date, Exabeam has raised $190 million in funding.
Why The SkyFormation Acquisition Matters
The cloud dominates all modern discourses concerning cybersecurity and SIEM. Few enterprises, especially global ones, continue to use strictly on-premises environments. Instead, they continue to migrate to hybrid or pure cloud infrastructures.
In many ways, it’s easy to see why. The cloud offers far more communication, collaboration, speed, and productivity—all of which contributes to a stronger bottom line.
However, the cloud presents enterprises with dangerous cybersecurity risks. As a result of cloud migration, your enterprise’s digital perimeter becomes more porous. Moreover, your infrastructure scales with its migration, which allows hackers to more easily conceal their threats.
As a result, hackers’ dwell times can extend into months if not years on cloud environments. Of course, the longer an attack lingers on your network, the more damage it does.
Thus it comes as no surprise that SIEM providers increasingly turn their attention to securing the cloud. Many providers design their solutions to expand their log aggregation to bring greater visibility to the cloud, and facilitate their alerting systems to fit.
You can read the full press release by Exabeam here.
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