Software maker Oracle has just finalized its agreement to acquire Palerra. Experts expect this move to help solidify the company’s place and expand its Identity Cloud Service, a program touted to be the next generation security and identity platform built specifically for cloud computing.
Neither companies have provided much public detail—if any at all—and are being particularly quiet about the money exchanging hands.
It should be noted, however, that Palerra raised $25 million in funding last year, alone; this number should provide at least some kind of insight into the financial value of this deal. And while Oracle has purchased many companies before, this is one of the few acquisitions of firms that specialize in cyber security.
In an official statement, Oracle said,”Together, Oracle and Palerra will help accelerate cloud adoption securely by providing comprehensive identity and security cloud services. The combination of Oracle Identity Cloud Service (IDaaS) and Palerra’s CASB solution plan to deliver comprehensive protection for users, applications and APIs, data, and infrastructure to secure customer adoption of cloud.”
You may recall that Oracle had once experienced data breach: one time, its MICROS point-of-sale system—which was in use at more than 300,000 cash registers—was hacked by a Russian cyber crime organization.
Palerra, of course, offers a core service which primarily focuses on enterprise app security automation. Oracle, then, would benefit from this as a means to expand on its enterprise data services and to increase its native use of cloud services. Obviously, improving cloud service—and cloud service security—is important for any tech company these days. Indeed, Palerra co-founder and CEO Rohit Gupta explains that “security for the cloud has become a top business priority” for the company.
And Palerra has a comprehensive catalog of such products ranging from incident response to breach discovery to insider threat detection. More specifically, Palerra provides a Cloud Access Security Broker—called Loric—which combines cloud usage visibility, user behavior analytics, security configuration, and data security with automated incident responses.
Palerra adds: “With cutting-edge security monitoring, and an unparalleled focus on automation, all built on an API-centric big data platform, Palerra protects mission-critical Cloud workloads for enterprises in every major industry vertical.”
While the future of the Palerra brand remains unclear, the two brands will continue to operate independently, although the Palerra leadership team will eventually join Oracle once the acquisition is complete.