OpenText has completed the acquisition of Pillr, an innovative Managed Detection and Response (MDR) platform developed by Novacoast. This strategic move is poised to elevate OpenText’s cybersecurity offerings, providing a comprehensive solution to combat the evolving landscape of cyber threats.
Pillr technology brings a cloud-native, multi-tenant MDR platform tailored for Managed Service Providers (MSPs). It offers Managed Detection and Response capabilities alongside robust threat-hunting functionalities. By integrating Pillr into its portfolio, OpenText aims to address the pressing need for enhanced threat hunting, monitoring, and response, particularly in environments where skill gaps, shortages, and alert fatigue are significant challenges.
This acquisition is expected to significantly enhance OpenText’s Cybersecurity product roadmap, allowing for the integration of key features like API integrations and product/pricing bundling customized for MSPs. These enhancements empower MSPs to deliver comprehensive cybersecurity solutions effectively safeguarding against a range of cyber threats.
It is noteworthy that the acquisition of Pillr technology will not have a material impact on OpenText’s financial results, emphasizing the strategic nature of the move in strengthening the company’s cybersecurity capabilities.
Mark J. Barrenechea, CEO & CTO of OpenText, expressed enthusiasm about the acquisition, stating, “We are pleased to welcome Pillr customers and employees to OpenText. Cyber threats continue to rise rapidly and are becoming more sophisticated. Organizations require advanced Managed Detection and Response solutions to thwart attackers from launching successful attacks.”
He further added, “The integration of Pillr’s platform with our existing Threat Detection offerings enhances OpenText’s position in the cybersecurity market and reaffirms our commitment to our SMB partners and customers.” This strategic step underscores OpenText’s dedication to providing robust cybersecurity solutions to effectively combat evolving cyber threats.
Source: fintech.global
