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IBM is buying Polar Security for $60M to bolster its tech in cloud data management

Variety

16-05-2023 | 09:36

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IBM is buying Polar Security for $60M to bolster its tech in cloud data management

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Cyber startups continue to get scooped up by bigger tech players looking to bolt on newer and better technology to address an ever-growing array of security vulnerabilities among themselves and their customers. In the latest development, TechCrunch has learned that IBM has acquired Polar Security, a startup founded in Israel that has built a platform for what Polar describes as “data security posture management” — that is, technology to audit and track how and where cloud data is flowing and being accessed within a company’s network.

A source with knowledge of the deal confirmed to TechCrunch that IBM is paying around $60 million for the startup, and that it will be announcing the deal formally this week, possibly as soon as today. (The price, it seems, is also being reported by Israeli-language news site tech12.) We have reached out to representatives for both companies to see if we can confirm any of these details.

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