OpenText has acquired Pillr, an MDR platform from Novacoast, which aims to enhance OpenText’s cyber offerings and provide a comprehensive solution to combat evolving cyber threats.
Pillr technology, a cloud-native, multi-tenant MDR platform designed for Managed Service Providers (MSPs), brings to the table Managed Detection and Response capabilities along with robust threat-hunting functionalities. This acquisition enables OpenText to address the pressing need for improved threat hunting, monitoring, and response, particularly in scenarios where skill gaps, shortages, and alert fatigue pose significant challenges.
OpenText’s Cybersecurity product roadmap is set to receive a significant boost from this acquisition, as it enables the integration of key features such as API integrations and product/pricing bundling tailored for MSPs. These enhancements aim to empower MSPs in offering comprehensive cybersecurity solutions to safeguard against various cyber threats effectively.
Importantly, the acquisition of Pillr technology does not have a material impact on OpenText’s financial results, underlining the strategic nature of the move in bolstering the company’s cybersecurity capabilities.
This acquisition marks a strategic step for OpenText in fortifying its cybersecurity portfolio and underscores its dedication to providing robust solutions to counter evolving cyber threats effectively.
OpenText CEO & CTO Mark J. Barrenechea said, “We are pleased to welcome Pillr customers and employees to OpenText. Cyber threats continue to rise fast and are growing more sophisticated. Organizations need advanced Managed Detection and Response solutions to prevent attackers from gaining the foothold needed to launch an attack.
“The combination of Pillr’s platform with our existing Threat Detection offerings strengthens OpenText’s position in the cybersecurity market and reinforces our commitment to our SMB partners and customers.”
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