Facebook acquires online security company

Posted on August 11, 2014

 

Online giant Facebook has continued its recent spending spree to acquire another company.

This time, the social phenomenon has purchased online security company PrivateCore.

The cyber-security firm, based in California, was established two years ago and, according to its website, was founded by industry veterans who had previously worked for software corporation VMware and search engine Google.

The financial aspects of the deal have yet to be disclosed by either party, but it is believed that Facebook will be using the firm’s technology in a bid to help secure servers, as well as protection from hackers and malware.

News providers have highlighted that this deal is well timed, as researchers have recently suggested that the credentials of 1.2 billion people have been stolen by a Russian hacker ring, making it one of the biggest data heists ever recorded.

With the number of high-profile security breaches increasing in recent years, it is important for major global tech companies, such as Facebook, to make security one of its main priorities and plan accordingly.

PrivateCore’s CEO, Oded Horovitz, announced the deal on the firm’s website by mentioning that the two businesses have an “aligned mission”, before continuing to state that:

“Facebook has done more than any company to connect the world, and we want to use our secure server technology to help make the world’s connections more secure.”

This acquisition is the latest in a long list of enterprises purchased by the social networking site, which has ranged across many industries, from messaging services such as WhatsApp in February this year, to virtual reality specialists in the form of Oculus VR.

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