Japanese cloud security multinational outfit Trend Micro has snapped up three-year-old Sydney-based start-up Cloud Conformity for US$70 million (A$101 million).
Cloud Conformity is a cloud security posture management (CSPM) company and the acquisition by Trend Micro is seen as a strategic move to quickly close the enterprise’s security gaps. Trend Micro is making Cloud Conformity available immediately.
It will also take on all Cloud Conformity staff and add its customers to Trend Micro’s growing 16K hybrid cloud customer base.
The acquisition builds upon Trend Micro adding complementary capabilities that automatically identify and fix a range of cloud infrastructure configuration issues.
“We have been laser-focused on building integrated security for the cloud since its birth over a decade ago, unlike other vendors who are now attempting to stitch together disparate cloud technologies,” said Eva Chen, Trend Micro CEO.
“As more enterprises move to the cloud, our customers feel they’re operating amid a wild-west approach to cloud implementations that leave them with unmanaged risk.”
According to researcher Gartner: “Through 2023, at least 99% of cloud security failures will be the customer’s fault.
“Through 2024, organisations implementing a CSPM offering and extending this into development will reduce cloud-related security incidents due to misconfiguration by 80%.”