After data breaches, Facebook plans to buy ‘major’ cyber security firm

In a bid to salvage reputation over user data protection, Facebook is now hunting for cyber security firms to acquire.

By: KUL BHUSHAN
| Updated on: Oct 22 2018, 12:21 IST
Facebook plans to blend the acquired security software into the existing tools on the social networking platform.
Facebook plans to blend the acquired security software into the existing tools on the social networking platform. (AP)

Facebook is reportedly planning to buy a 'major' cyber security firm to improve its defence against data breaches and security risks. The social networking giant is said to have offered deals to "several" cyber security companies.

According to a report by TheInformation, Facebook has set up a team inside its corporate development department to scout for the cyber security companies interested in acquisition deals.

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Facebook plans to blend the acquired security software into the existing tools on the social networking platform. The software suite is expected to include analytics and even ability to flag unauthorised access. The acquisition will help Facebook gain more expertise in the cyber security space, according to the report. The deal is expected to be finalised by end of this year.

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It's not the first time Facebook will go on a shopping spree to bolster security. Back in 2014, Facebook acquired PrivateCore in order to secure its servers from malware attacks and unauthorised access. The company also runs Bug Bounty programmes to invite public to find out loopholes and security risks.

Facebook's reported move to buy a cyber security firm comes days after the company suffered one of its worst security breaches that impacted nearly 30 million users. The company admitted that hackers had gained access to key personal user details like phone number, email address, gender, religious affiliation and even the kind of computing devices used to access the social networking platform.

Earlier this year, Facebook drew flak after revelations that Cambridge Analytica, a British consulting firm that worked for the Trump campaign, had harvested data of over 80 million users. 

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First Published Date: 22 Oct, 12:20 IST
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