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 cybersecurity and IT teams to gain visibility to the “ungoverned surface area” and streamline SaaS application governance and enforcement.
Zscaler said it expects Canonic’s technology to add to its suite of cloud security services, especially in the areas of SaaS security posture management, attack surface reduction and the enforcement of access governance.
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