IBM Acquires Assets from Spanugo

Rhea-AI Summary

IBM has signed a definitive agreement to acquire Spanugo, a US provider of cloud cybersecurity posture management solutions. This acquisition aims to enhance IBM's public cloud offerings, particularly for clients in regulated industries such as financial services and healthcare. The integration of Spanugo's technology is expected to improve compliance monitoring and strengthen security controls. IBM emphasizes its commitment to delivering the most secure public cloud for enterprises, with Spanugo's capabilities complementing its existing security framework.

Positive

• Acquisition of Spanugo enhances IBM's cybersecurity capabilities in public cloud.
• Integration of Spanugo technology will improve compliance monitoring for clients in regulated industries.
• Strengthens IBM's position in the financial services sector with advanced security measures.

Negative

• None.

ARMONK, N.Y., June 15, 2020 /PRNewswire/ -- IBM (NYSE: IBM) today announced it has signed a definitive agreement to acquire Spanugo, a US-based provider of cloud cybersecurity posture management solutions. To further meet the security demands of its clients in highly regulated industries, IBM will integrate Spanugo software into its public cloud.

Late last year, IBM announced it designed the world's first financial services public cloud to help address the requirements of financial services institutions for regulatory compliance, security and resiliency. Once available, it will provide preventative and compensatory controls for financial services regulatory workloads, multi-architecture support and proactive and automated security, leveraging the industry's highest levels of encryption certification. The addition of Spanugo software will help accelerate the availability of a security control center that will enable IBM clients to define compliance profiles, manage controls and, in continuous real time, monitor compliance across their organization.

"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," said Howard Boville, SVP, Cloud, IBM. "Bringing Spanugo's technology into our financial services public cloud will help provide our clients with evidence of their ongoing compliance, in real time."  

As clients move increasingly significant and sensitive workloads to the cloud, management of security and compliance becomes more complex. For businesses in highly regulated industries, including financial services, healthcare, insurance, telco and more, cloud environments are most useful when they are approved for sensitive information and run workloads subject to strict regulatory and compliance guidelines. When an organization is audited, for example, Spanugo's technology can efficiently and transparently demonstrate cybersecurity compliance in real time. Additionally, it delivers a continuous process of cloud security improvement and adaptation to reduce the likelihood of a successful attack. Spanugo software will be incorporated into a suite of capabilities within IBM public cloud services.

"Spanugo's strong domain knowledge and experience in security posture management is a natural complement to IBM's public cloud offerings," said Doc Vaidhyanathan, cofounder and chief product officer, Spanugo. "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."  

IBM continues to invest in the security capabilities of its public cloud having previously announced new services that further its focus as the leading secure and open public cloud for business. As part of this, we introduced the industry's strongest commercially available cryptographic technology for the cloud called "Keep Your Own Key." This gives enterprises the ability to retain control of their own encryption keys -- and the hardware security modules that protect them -- so customers are the only ones who can control access to their data. 

For more information, visit www.ibm.com/cloud 

CONTACT:
Kaveri Camire
IBM Communications
kcamire@us.ibm.com

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SOURCE IBM

FAQ

What is the purpose of IBM's acquisition of Spanugo?

IBM aims to enhance its cloud cybersecurity posture management capabilities for clients in regulated industries.

How will Spanugo's technology impact IBM's public cloud services?

Spanugo's technology will improve real-time compliance monitoring and enhance security controls within IBM's public cloud.

When was the acquisition of Spanugo announced by IBM?

The acquisition was announced on June 15, 2020.

What industries will benefit from the acquisition of Spanugo by IBM?

Industries such as financial services, healthcare, and insurance will benefit from improved compliance and security features.

What are the expected outcomes of integrating Spanugo into IBM's offerings?

Expected outcomes include enhanced security compliance, better management of sensitive workloads, and a stronger public cloud service.