IBM to acquire cybersecurity firm Spanugo
IBM has entered into a definitive agreement to acquire Spanugo, a US-based provider of cloud cybersecurity posture management solutions.
The acquisition will enable IBM to further meet the security demands of its clients in highly regulated industries, by integrating Spanugo software into its public cloud and into a suite of capabilities within IBM public cloud services.
The news follows IBM’s financial services public cloud, announced in 2019, to help address the needs of financial services institutions for regulatory compliance, security and resiliency.
The addition of Spanugo software will help accelerate the availability of a security control centre that will enable IBM clients to define compliance profiles, manage controls and, in continuous real time, monitor compliance across their organisation.
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“IBM is committed to building the industry’s most secure and open public cloud for business,” said Howard Boville, SVP of cloud at IBM.
“With the acquisition of Spanugo, we have taken another major step in advancing IBM’s differentiated capabilities in security and compliance for our enterprise clients, including those in highly regulated industries. Bringing Spanugo’s technology into our financial services public cloud will help provide our clients with evidence of their ongoing compliance, in real time.”
For businesses in highly regulated industries like, financial services, healthcare, insurance, telco and more, cloud environments are most beneficial when they are approved for sensitive information and run workloads under strict regulatory and compliance guidelines.
For example, when an organization is audited Spanugo’s technology can efficiently and transparently demonstrate cybersecurity compliance in real time.
Additionally, it delivers a continuous process of cloud security improvement and adaptation to reduce the likelihood of a successful attack.
“Spanugo’s strong domain knowledge and experience in security posture management is a natural complement to IBM’s public cloud offerings,” added Doc Vaidhyanathan, cofounder and chief product officer at Spanugo.
“By joining IBM on its mission to be the most secure public cloud for the enterprise, we’re able to deeply serve businesses across industries that require verifiable, audit-ready, real-time cybersecurity posturing.”
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