February 1, 2019
The move aims to provide threat intelligence, data insights and platform protection services to enterprises leveraging the power of the cloud.
Stockholm-based security startup Baffin Bay Networks have acquired US data security business Loryka in order to expand onto the latter’s home turf. With this acquisition, Baffin Bay seek to provide threat intelligence, breach detection and platform protection services to US-based enterprises.
Baffin Bay believe that in terms of cybersecurity, detecting breaches is a key factor when it comes to curbing attacks. They further added that with the rise of cloud, IoT and SaaS platforms, securing them has become of utmost necessity to protect workloads.
Similarly, Loryka say that sharing of useful data points with researchers paves the way for much needed technical breakthroughs. They believe that it is this route that allowed them to combat vulnerabilities across IoT platforms and bring the IoT security to enterprises in Europe.
By acquiring Loryka, Baffin Bay believe that they will have a threat research team in the US with local expertise and understanding of consumer problems. They say that this expansion will allow Baffin Bay to facilitate clients with unrivalled threat intelligence capabilities.
Industry analysts opine that the move will provide Baffin Bay with a much-needed boost to compete in the US market with the likes of CrowdStrike and Netskope. It will be exciting to see the turn of events, following the partnership between Google Cloud and Palo Alto Networks.