Layer 7 Acquired by CA Technologies for $155 Million
Today, Vancouver-based technology API management company Layer 7 was acquired by CA Technologies for an undisclosed sum.
Update: Canadian Private Equity has confirmed that the acquisition price was $155 million.
CA Technologies says the acquisition of Layer 7 will enable it to manage and secure the API marketplace with leading technology that complements its current Identity and Access Management suite, including CA SiteMinder, and its technologies focused on DevOps including the CA LISA suite.
"It's been a 10 year overnight success," Layer 7 cofounder Dimitri Sirota told Techvibes. "The ride hasn't always been smooth but we are all thrilled that the hard work has resulted in a great outcome for the investors, founders and staff. CA has been a great partner to date and we expect this tighter union will help catapult the Layer7 business to even greater heights."
“The API-driven economy has exploded, driven by today’s cloud, mobile and complex composite applications for business services,” says Paul Rochester, CEO of Layer 7. “With more than 8,000 public APIs available at the end of 2012, there is a vast library of proprietary components and data exposed to the external world that need to be managed and secured from unauthorized access. API applications and services are no longer a trend, they are mainstream."
"The combination of CA Technologies and Layer 7 is the best option for enterprises to successfully and securely leverage all the business benefits APIs can offer," he added.
SEE ALSO: Layer 7's Quietest Triumph
“The addition of Layer 7 and the synergy across our technologies will improve how we securely support organizations in their cloud, mobile and ‘Internet of things’ initiatives,” says Mike Denning, security general manager for CA Technologies.
“We use APIs every day, whether accessing flight data from our mobile device, using Google Maps from a hotel website or making payments online. There are billions of API calls a day and that number is going to increase with the proliferation of smart devices, ranging from vehicles, meters, TVs and other devices, as they start interacting over APIs," he continued. "Without API security and management, thousands of business services are vulnerable to disruption.”
"APIs are basically windows into information. For organizations that are looking to share information with partners, such as GM, who needs to share information with suppliers, for organizations that want to share information with app developers so it can be put into the mobile space," Sirota told Techvibes in November. "College Board, for example, they have tests that they run through the cloud and stuff in their data center: APIs represent windows to that information. But you don’t want it to be naked—you need some clothes on it, administration and security. That’s what we handle. The security management and integration challenges of using APIs for connecting partners, mobile apps, cloud services, and developers."
