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Dublin IoT Asavie Sells to Akamai


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CategoryBusiness
DateTuesday, October 27, 2020
AuthorNews Room

Dublin IoT Firm Asavie Sells to Akamai

Privately Funded IoT Company Asavie Sells to Nasdaq Listed Akamai in All-Cash Transaction

Asavie, the Dublin based IoT company set up in 2004, has been acquired by US based Akamai Technologies in an un-disclosed all-cash transaction. 

Asavie’s mobile and IoT (“internet of things”) solutions manages the security, performance and access policies for mobile and internet-connected devices and will now become part of Akamai’s Security and Personalization Services (“SPS”) product line sold to carrier partners who can embed the solutions within the technology bundle sold to their subscribers.

Asavie-Ralph-Shaw-330x220.jpg

Asavie's solution automates the creation of self-serve, private, network-based services that secure access from mobile and internet-connected devices to applications and data without requiring installation and management of client software. The company says this clientless architecture is particularly well-suited for regulated verticals, such as healthcare, financial services, and education, many of which are transitioning to a secure ‘office anywhere’ environment as a result of the COVID-19 pandemic.

Asavie is a privately funded company. CEO Ralph Shaw (pictured) said; “We expect COVID-19 to have a lasting impact on how employees work and how businesses operate. Network security needs will be required to evolve in a 5G era where the office needs to go wherever employees happen to work. The Asavie suite of software-defined solutions is designed to enable enterprises to provide access to business resources while continuously protecting the business in a world of evolving cyber threats targeting mobile devices, users and applications.”

According to Akamai, which is headquartered in Cambridge, Massachusetts, the edge - where users connect, where digital life is experienced, where clouds, devices, and vast streams of data come together - is the next frontier of digital business. Its portfolio of edge security, web and mobile performance, enterprise access and video delivery solutions surrounds everything, from the enterprise to the cloud, so customers and their businesses can be fast, smart and secure helping them realize competitive advantage through agile solutions that extend the power of their multi-cloud architectures. 

Commenting on the deal, Tom Leighton, CEO and co-founder, Akamai Technologies said; “We believe the addition of Asavie will help Akamai’s carrier partners address enterprise and mid-market customer demand for IoT and mobile device security and management services. What’s notable about the Asavie solution is that, as more IoT devices connect over cellular and 5G, it has been shown to be very easy to scale and protect them.”

The all-cash transaction is not expected to have a material impact on Akamai’s 2020 financial results nor impact its previously-stated operating margin goal for 2020.

 

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