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Qualys has announced plans to acquire NetWatcher assets to improve the firm's cloud security offerings.
Earlier this week, the Foster City, Calif.-based firm said that it has entered an asset purchase agreement with network security company NetWatcher to purchase specific technologies.
NetWatcher offers network security monitoring software which combines vulnerability management, intrusion detection, behavioral monitoring, security information and event management (SIEM), threat intelligence and monitoring in real-time.
Qualys hopes that this technology, which also picks up on weak password use, unsafe behavior and outdated software, will improve the firm's cloud platform and incident response.
The agreement will be made through a cash transaction. Further financial details have not been disclosed.
In a press release, Qualys said the NetWatcher service is expected to be fully integrated into the Qualys cloud platform within the next 12 months.
"Built on open source components, NetWatcher has created a comprehensive cybersecurity and threat intelligence service that helps businesses of all sizes effectively manage cyber threats, provide incident response, and manage compliance across on-premise, hybrid and cloud environments," said Philippe Courtot, Chairman and Qualys CEO. "Native integration of Netwatcher into the Qualys Cloud Platform allows us to deliver its capabilities at enterprise scale, helping us expand our reach into the real-time threat intelligence market and strengthen our relationships with managed security service providers, who will offer and deliver this service to their clients worldwide."
Under the terms of the agreement, NetWatcher's team will be incorporated into Qualys, and NetWatcher CEO Scott Suhy has been appointed Vice President of Strategic Alliances and Business Development for Qualys.
NetWatcher founder and CTO Kenneth Shelton will become Vice President of Engineering for the Qualys Real-time Threat Correlation platform.
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Existing NetWatcher customers will still be able to use the service, and the acquisition is not expected to impact future Qualys financials.
This week, Accenture snapped up a minority stake in quantum computing startup 1QBit, which develops machine learning algorithms and software for quantum computing.