Oracle acquires Palerra to upgrade Cloud Security

banking security

Oracle has just concluded the agreement to acquire Palerra last Sept. 18. The move is expected to bolster the company’s push to expand its Identity Cloud Service, which is touted as a next-generation security and identity platform for the cloud.

Both companies did not provide any details about the recent acquisition, particularly the cost involved. However, one should remember that Palerra has raised $25 million in funding last year. This figure should provide some insight regarding its value.

“Together, Oracle and Palerra will help accelerate cloud adoption securely by providing comprehensive identity and security cloud services,” Oracle said in an official statement. “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.”

Palerra’s core services primarily focus on enterprise apps’ security automation. Its importance for Oracle rests on the expansion of enterprise data across services and the increase in the use of cloud services today. These entail the growing necessity to ensure their security. Palerra, for example, has a comprehensive array of related products that range from breach discovery, insider threat detection to incident response.

“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,” Palerra stated.

Oracle itself has experienced data breach in the past such as the time when its MICROS point-of-sale system used in more than 300,000 cash registers was hacked by a Russian cyber crime organization. While the company has completed several prominent acquisitions in the past, they involve few firms specializing in security.

Adapted from techtimes

Related posts

Leave a Comment