Akamai acquires Asavie for mobile and IoT security

CAMBRIDGE, Mass. – Akamai Technologies, Inc. (NASDAQ: AKAM), the intelligent edge platform for securing and delivering digital experiences, announced today that it has acquired Asavie, whose global platform manages the security, performance and access policies for mobile and internet-connected devices. Asavie's mobile, IoT ("internet of things") and security solutions will become part of Akamai's Security and Personalization Services ("SPS") product line sold to carrier partners that embed the solution within the technology bundle sold to their subscribers.

Asavie delivers secure, frictionless access to business resources for a fully mobile workforce. The company automates the creation of self-serve, private, network-based services that secure access from mobile and internet-connected devices to applications and data without requiring installation and management of client software. This clientless architecture is particularly well-suited for regulated verticals, such as healthcare, financial services, and education. Many of these industries are transitioning to a secure 'office anywhere' environment as a result of the COVID-19 pandemic and benefit from a rapidly installable, scalable and cloud-managed solution.

"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, chief executive officer and co-founder, Akamai Technologies. "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."

"We expect COVID-19 to have a lasting impact on how employees work and how businesses operate. Network security needs will be required to evolve in a 5G era where the office needs to go wherever employees happen to work," said Ralph Shaw, Asavie chief executive officer. "The Asavie suite of software-defined solutions is designed to enable enterprises to provide access to business resources while continuously protecting the business in a world of evolving cyber threats targeting mobile devices, users and applications."

Asavie is a privately-funded company headquartered in Dublin. It automates and manages private networks for businesses at scale, and its solutions are sold by top global mobile network operators. The all-cash transaction is not expected to have a material impact on Akamai's 2020 financial results nor impact its previously-stated operating margin goal for 2020.

Akamai