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10/10/2019
02:45 PM
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Akamai Snaps Up ChameleonX to Tackle Magecart

The Israel-based ChameleonX aims to protect websites from cyberattacks targeting payment data.

Akamai has confirmed plans to acquire ChameleonX, an Israel-based security startup with a strong focus on securing websites against attacks targeting payment and personal information.

The goal is to accelerate development of a tool to protect websites from Magecart attacks, an increasingly common threat in which adversaries inject malicious code into a target website so they can steal credential and payment card data at checkout. ChameleonX's platform is designed to detect this code on a victim system early on, before significant damage is done. 

By acquiring ChameleonX's team and technology, Akamai plans to develop a product that detects and blocks active attacks without interfering with the user experience, officials state.

ChameleonX was founded in 2016 and has since generated $1.9 million over two rounds of funding. Terms of the deal were not disclosed; however, sources familiar with the matter have told Nasdaq it's valued at nearly $20 million. Closing is expected in the fourth quarter of 2019.

Read more details here.

Check out The Edge, Dark Reading's new section for features, threat data, and in-depth perspectives. Today's top story: "Can the Girl Scouts Save the Moon from Cyberattack?"

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio
 

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