Oracle is all set to get hold of cloud security vendor Palerra
Palerra, a vendor of software for securing cloud services is soon to be acquired by Oracle as a part of its strategy to provide customers inclusive identity and security cloud services. Founded in 2013, Palerra is a privately held company backed by Norwest Venture Partners, Wing Venture Capital, and August Capital. It offers a Cloud Access Security Broker product called Loric that offers a combination of visibility into cloud usage, data security, user behavior analytics, and security configuration, with automated incident responses.
“Along with the dramatic expansion of Cloud technologies in the enterprise, security for the Cloud has become a top business priority,” wrote Rohit Gupta, CEO and cofounder of Palerra in a blog post.
To explain more about the acquisition Larry Ellison, Oracle’s executive chairman and chief technology officer in his keynote at the Oracle OpenWorld conference, said “We think this is an important addition to our overall cloud security portfolio. It [Security] is job one at Oracle. We’ll keep building, and when we find a supplier out there who is doing good work, we’ll buy them.”
However, the financial condition of the acquisition was is not yet disclosed. The transaction is subject to customary closing conditions, and the two companies will continue to function independently until the completion of the deal. According to the startup, the Palerra leadership and team will join Oracle after the acquisition. Oracle expects to combine its own Oracle Identity Cloud Service (IDaaS) with Palerra’s CASB service.
Well, this is not the first time, over the years Oracle has been acquiring cloud computing companies to beach up its offerings as well as to focus on positive vertical industries such as utilities and the construction industry. In July, it said it would pay US$9.3 billion for NetSuite, a provider of cloud-based applications, such as for financial management, enterprise resource planning, e-commerce and retail management.
Earlier this month, it said it would acquire LogFire, a provider of cloud-based warehouse management applications in Atlanta, Georgia, to improve the features of its supply chain management cloud offering.