OpenText Corporation (NASDAQ: OTEX), (TSX: OTEX) announced that it has acquired Pillr, an MDR platform, from Novacoast, Inc.
Pillr technology is a cloud-native, multi-tenant MDR platform for Managed Service Providers (MSPs) that delivers managed detection and response with powerful threat hunting capabilities. Combining Pillr technology with OpenText's security expertise provides enhanced threat hunting, monitoring and response to customers who face significant needs today due to skills gaps, skills shortages and alert fatigue.
The acquisition accelerates OpenText's cybersecurity product roadmap, delivering key capabilities such as API integrations and product/pricing bundling for MSPs looking for comprehensive solutions to protect, detect and respond to cybersecurity threats.
“We are pleased to welcome Pillr customers and employees to OpenText,” said Mark J. Barrenecea, OpenText CEO and CTO. “Cyber threats continue to grow rapidly and become more sophisticated. Organizations need advanced managed detection and response solutions to prevent attackers from gaining the foothold they need to launch an attack. Combining Pillr's platform with our existing threat detection products strengthens OpenText's position in the cybersecurity market and strengthens our commitment to our SMB partners and customers.”
Pillr's technology acquisition will not have a material impact on OpenText's results of operations.
About OpenText
OpenText, The Information Company™ helps organizations gain insight through market-leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX; TSX: OTEX), visit opentext.com.
Caution Regarding Forward-Looking Statements
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