Akamai Doubles Down on API Security With $450M Noname Acquisition Deal

Akamai Technologies has announced its acquisition of API security firm Noname Security for $450 million, aiming to extend protection across all API traffic locations.

The acquisition underscores Akamai’s commitment to enhancing API security by focusing on improved discovery of “shadow” APIs and detection of API vulnerabilities and attacks. This strategic move comes as Akamai showcases its security offerings at the RSA Conference 2024 in San Francisco.

Tom Leighton, Co-Founder and CEO of Akamai, highlighted the company’s strong results in API security, citing prior success with the acquisition of Neosec. He emphasized the increasing interest among enterprise CISOs and CIOs in bolstering API security, noting that many organizations are unaware of all the APIs within their infrastructure.

Noname Security, founded in 2020, was acquired for less than half of its $1 billion valuation achieved in late 2021. Despite its relatively short history, the startup had secured substantial funding, totaling at least $220 million.

The acquisition of Noname Security by Akamai is expected to be finalized in the second quarter of the year, further solidifying Akamai’s position in the API security market.