Enterprise cybersecurity provider FireEye Inc. has announced its acquisition of privately held big data and machine learning startup X15 Software Inc. in a deal worth $20 million. The $2.9 billion publically traded enterprise software company will use the acquisition to enhance its security products to meet the demands of emerging threats and stay up to date with the next-generation of cybersecurity technology.
X15 was founded in 2013 and is headquartered in Sunnyvale, Calif. The platform integrates with analytics platform such as Tableau and Qlik.
The addition of X15, a 20-person company spread across India and California, will provide FireEye with a management console that works for public cloud, hybrid and on premise infrastructure. The Milpitas, Calif.-based security giant suggests that its new enhanced platform will have a greater ability to utilize security data and fend off threats so to protect its customers’ most valuable assets.
FireEye has praised X15’s platform for its ability to ingest and analyze data at scale within a unified data model and modular query language.
“The X15 Software team built an incredibly versatile, enterprise-grade big data platform that enables distributed, real-time access and ingestion of data at scale within a unified data model and modular query language. X15 Software technology will accelerate our strategy of delivering an innovative, next-gen security platform,” said John Laliberte, senior vice president of engineering at FireEye.
As cyber attacks become more prevalent, effecting consumers, businesses and governments alike, spending on cybersecurity is expected to surpass $1 trillion in the five-year period from 2017 to 2021. FireEye has doubled down on that growing need in the recent period, increasing its revenues from all products and services from just $11.8 million in 2010 to $714.1 million in 2016, reflecting a compounded annual growth rate (CAGR) of almost 100% per annum.
FireEye’s X15 acquisition closed on January 11th 2018, with FireEye paying $15 million in equity and the rest in cash. In February 2016, the software vendor made its last purchase with its buyout of Invotas. About one prior, FireEye had spent $200 million to acquire iSight Partners.