Akamai Snaps Up ChameleonX to Tackle Magecart

The Israel-based ChameleonX aims to protect websites from cyberattacks targeting payment data.

Akamai has confirmed plans to acquire ChameleonX, an Israel-based security startup with a strong focus on securing websites against attacks targeting payment and personal information.
The goal is to accelerate development of a tool to protect websites from
Magecart
attacks, an increasingly common threat in which adversaries inject malicious code into a target website so they can steal credential and payment card data at checkout. ChameleonXs platform is designed to detect this code on a victim system early on, before significant damage is done.
By acquiring ChameleonXs team and technology, Akamai plans to develop a product that detects and blocks active attacks without interfering with the user experience, officials state.
ChameleonX was founded in 2016 and has since generated $1.9 million over two rounds of funding. Terms of the deal were not disclosed; however, sources familiar with the matter have told
Nasdaq
its valued at nearly $20 million. Closing is expected in the fourth quarter of 2019.
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Akamai Snaps Up ChameleonX to Tackle Magecart