Cybersecurity unicorn Acronis acquires DeviceLock

CYBERSECURITY firm Acronis has acquired US-based DeviceLock, for an undisclosed sum. 

DeviceLock provides device control and endpoint data leak prevention (DLP) software meant for enterprises and government institutions around the world, Acronis said in a press statement on Thursday. 

As part of the agreement, DeviceLock will become a wholly-owned subsidiary of Acronis.

Acronis will integrate DeviceLock's technology into its cyber platform, making new services available through the Acronis cyber cloud solutions portal.

At the same time, Acronis will continue to work on new versions of the DeviceLock DLP complex while maintaining full technical support.

Ashot Oganesyan, DeviceLock's founder and chief technology officer, said: "By merging with Acronis, we can accelerate product innovation, expand our distribution channel and leverage our existing technology to meet customer requirements."

DeviceLock's DLP solution protects four million computers in over 5,000 organisations worldwide. Its customers span industries including banking and finance, pharmaceuticals, government and defence, manufacturing and retail.

It is designed to stop data leaks at the source, as nearly two thirds of serious data leak incidents are caused by employees, contractors or visitors, be it through unintentional mistakes or malicious intent, Acronis said.

Acronis was founded in Singapore in 2003 and incorporated in Switzerland in 2008. The company has more than 1,500 employees in 33 locations across 18 markets.

Last September, Acronis achieved unicorn status with a US$147 million funding round led by Goldman Sachs. Unicorns are startups that have hit the US$1 billion valuation mark.