UPDATED 12:00 EDT / JUNE 15 2020

CLOUD

IBM buys Spanugo to bolster its financial services public cloud

IBM Corp. said today it’s acquiring the software assets of cloud cybersecurity posture management provider Spanugo Inc.

It will use the assets to bolster the security of its financial services public cloud, which is an upcoming offering announced last year that will that help ensure regulatory compliance, security and resiliency for financial services industry customers.

Spanugo sells cybersecurity “posture assurance” software that helps automate the discovery of threats, analyze and remediate them. By adding these capabilities to its financial services cloud, IBM said, it will “accelerate the availability of a security control center” that will enable customers to define compliance profiles and monitor them across their entire organization.

“Bringing Spanugo’s technology into our financial services public cloud will help provide our clients with evidence of their ongoing compliance, in real time,” said Howard Boville, senior vice president of cloud at IBM.

Spanugo’s technology goes further too, delivering what IBM calls a “continuous process” of cloud security improvement and adaptation to reduce the likelihood of a security breach.

“Spanugo’s strong domain knowledge and experience in security posture management is a natural complement to IBM’s public cloud offerings,” said Doc Vaidhyanathan, co-founder and chief product officer at Spanugo.

IBM’s global managing director of banking and financial markets, Sarah Diamond, appeared on theCUBE, SiliconANGLE’s mobile livestreaming studio, during the recent IBM Think Digital Event Experience, where she talked more about the company’s financial services cloud and the challenge of ensuring compliance in the industry:

Image: MasterTux/Pixabay

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