Cloud security vendor Zscaler on Tuesday announced plans to acquire Israeli early-stage startup Canonic Security to expand its services into the red-hot software supply chain security business.
Financial terms of the transaction were not disclosed.
Canonic Security, based in Tel Aviv, Israel, emerged from stealth exactly a year ago with $6 million in seed-stage venture capital funding for technology in the third-party app governance space.
The publicly traded Zscaler, based in San Jose, CalifCanonic’s platform is designed to prevent expanding risks associated with SaaS supply chain attacks.
Zscaler is betting there’s a growing market for securing the connections behind business tools like Atlassian, Microsoft 365 or Salesforce to thousands of third-party applications and browser extensions.
“Corporate IT believes its critical data assets are stored and protected in enterprise-ready SaaS platforms. In reality, these assets are held in third-party drives, email clients, and chatbots, bringing data exposure and cyber risk to their SaaS supply chain,” Zscaler said in a note announcing the acquisition.
The company said Canonic technology allows…
