London, England-based cybersecurity vendor, BullGuard
that provides PC and mobile security solutions including anti-virus, web-based identity and social media protection has announced the acquisition of consumer security provider
Dojo Labs for an undisclosed amount. Headquartered in Palo Alto, California, Dojo Labs offer privacy solutions for cloud-based Internet of Things (IoT) devices in a connected space or environment. However, the details of the deal weren’t disclosed.
The joint offering, post-acquisition, aims at boosting security services, delivered to consumers or small sized businesses (SMBs). The buyout could potentially strengthen BullGuard’s hold in the connected world of IoT and extend its line-up of security products. Although, it is not very clear how the technology behind Dojo Labs will fold and integrate into BullGuard’s offerings.
Paul Lipman, CEO, BullGuard, said, “More than 4 billion consumer devices are connected to the internet today, and this number is growing exponentially. Until now, the security and privacy of these devices has been essentially non-existent, leaving our most precious data and possessions exposed. BullGuard and Dojo share a common vision for solving this critical market need, and for delivering the products our customers need to keep them safe.”
“BullGuard’s promise to our customers is that we keep it simple and we keep you safe, for which we’ve been recognized in our recent sweep of prestigious national awards. With the acquisition of Dojo Labs we look forward to delivering the highest level of protection to our customers across their entire connected lives,” Lipman added.
While Dojo Lab that offers Dojo, security of things as a service, keeps in touch via a chat application user interface (UI) that is quick to notify at the face of cyber threats and challenges. It acts like a security layer, claims the company, with the IoT device, Pebbel that is free to move about (smart home) and glows when there is activity that needs to be addressed in the app. It then flags and blocks anomalous activities by connected gadgets.
The Internet of Things has moved rapidly from an early adopter market into the mainstream, but in doing so has introduced a range of new security concerns for consumers and the combined forces plans to address the same. It already does so with a defense system that utilizes pattern recognition to learn to detect threats and mitigate them, claims the company.
Yossi Atias, Co-Founder and CEO, Dojo Labs, commented:
“The transformative promise of smart homes can only be truly realized once the security problem has been solved. I am delighted to be combining forces with BullGuard at this pivotal juncture in the evolution of our industry.”
Founded in the year 2014, Dojo as a product was out of stealth in November, 2015 to monitor network traffic for IoT devices on a home network. Similar service providers in today’s market are Illusive Networks
, and LightCyber
Up the M&A valley, the join of hands between both the companies has come after the $1.3 billion all cash deal between Security software specialist Avast and its then rival AVG
earlier in July, where the former acquired the latter to boost existing security portfolio.