10/10/2019
02:45 PM

Akamai Snaps Up ChameleonX to Tackle Magecart

The Israel-based ChameleonX aims to protect websites from cyberattacks targeting payment data.



Akamai has confirmed plans to acquire ChameleonX, an Israel-based security startup with a strong focus on securing websites against attacks targeting payment and personal information.

The goal is to accelerate development of a tool to protect websites from Magecart attacks, an increasingly common threat in which adversaries inject malicious code into a target website so they can steal credential and payment card data at checkout. ChameleonX's platform is designed to detect this code on a victim system early on, before significant damage is done. 

By acquiring ChameleonX's team and technology, Akamai plans to develop a product that detects and blocks active attacks without interfering with the user experience, officials state.

ChameleonX was founded in 2016 and has since generated $1.9 million over two rounds of funding. Terms of the deal were not disclosed; however, sources familiar with the matter have told Nasdaq it's valued at nearly $20 million. Closing is expected in the fourth quarter of 2019.

Read more details here.

Check out The Edge, Dark Reading's new section for features, threat data, and in-depth perspectives. Today's top story: "Can the Girl Scouts Save the Moon from Cyberattack?"

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