Akamai Acquires Asavie for Its Mobility, IoT Services
Akamai on Tuesday announced that it has acquired Asavie, an Ireland-based company that provides mobility, IoT and cybersecurity solutions.
Asavie has developed a platform that helps enterprises secure their mobile and IoT devices by placing assets inside private network slices. The company says it uses machine learning and anomaly detection to secure networks.
Akamai says its acquisition of Asavie is part of its strategy to advance 5G security, and it hopes to expand its ability to secure mobile and other cellular devices in increasingly distributed enterprise environments.
Akamai has decided that Asavie’s solutions will become part of its Security and Personalization Services product line.
The company revealed that it acquired Asavie in an all-cash deal that is not expected to have a material impact on its financial results for 2020, but the exact amount that it paid for the Irish firm has not been disclosed.
The Irish Times said Asavie employs over 130 people and the company reported revenues of €23.6 million ($28 million) and pretax profits of €1.9 million ($2.2 million) last year.
“We believe the addition of Asavie will help Akamai’s carrier partners address enterprise and mid-market customer demand for IoT and mobile device security and management services,” said Dr. Tom Leighton, CEO and co-founder of Akamai. “What’s notable about the Asavie solution is that, as more IoT devices connect over cellular and 5G, it has been shown to be very easy to scale and protect them.”
Akamai has acquired a total of 28 organizations over the past years, including four companies last year. Earlier this year, it announced acquiring customers and intellectual property from Instart, a California-based firm that provides solutions for improving application performance, consumer experience and security.
Every year since 2015, Akamai has reported revenues exceeding $2 billion and last year it reached nearly $3 billion.