IBM to acquire Cloud Security startup Spanugo

IBM is set to acquire Cloud Security Startup Spanugo. The financial terms of the transaction were not disclosed.

Spanugo will help IBM with Cloud compliance and protection in regulated industries for their clients. Some of the regulated industries include financial services, healthcare, insurance, and telecommunication.

Based in Santa Clara, Calfornia, Spanugo is an early-stage cloud security startup. It helps in securely running workloads in the cloud with compliance and risk management capabilities.

Co-founder and chief product officer, Spanugo, Doc Vaidhyanathan, said, "Spanugo's strong domain knowledge and experience in security posture management is a natural complement to IBM's public cloud offering. By joining IBM on its mission to be the most secure public cloud for the enterprise, we're able to deeply serve businesses across industries that require verifiable, audit-ready, real-time cybersecurity posturing."   

SVP, Cloud, IBM, Howard Boville, said, "IBM is committed to building the industry's most secure and open public cloud for business. With the acquisition of Spanugo, we have taken another major step in advancing IBM's differentiated capabilities in security and compliance for our enterprise clients, including those in highly regulated industries. Bringing Spanugo's technology into our financial services public cloud will help provide our clients with evidence of their ongoing compliance, in real time."   

The acquisition will allow IBM clients to create compliance profiles, manage controls, and, in continuous real-time, monitor compliance across their organization.

IBM's financial services public cloud can be one of the beneficiaries of this acquisition as the financial industry demands stringent regulatory compliance, security, and resiliency.

Spanugo software will be incorporated into a suite of capabilities within IBM public cloud services, says the announcement.