Facebook acquires Security Firm PrivateCore

In order to protect its own servers and customers in a better way, Facebook has acquired California-based cybersecurity startup PrivateCore for an undisclosed amount. The other terms and conditions are still undisclosed. Post this acquisition, “Facebook plans to deploy our technology into the Facebook stack to help protect the people who use Facebook.” said PrivateCore’s CEO Oded Horovitz, on the company website. “Working together with Facebook, there is a huge opportunity to pursue our joint vision at scale with incredible impact.”

private core

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PrivateCore was launched in 2011, as a venture of Co-Founders Stephen Weis, Oded Horovitz, enabling enterprises and service providers to create trusted computing pools in the cloud by validating and securing OpenStack servers. Till date, the company had secured a total funding of USD 2.3 million in Seed investment from TEEC Angel Fund and Foundation capital. It having 9 employees in its current team.

“I believe that PrivateCore’s technology and expertise will help support Facebook’s mission to help make the world more open and connected, in a secure and trusted way,”  said Facebook’s Chief Security Officer Joe Sullivan, as per Hindustan Times report.

In the earnings release for Facebook Inc., it earned USD 788 million, or 30 cents per share, in the April-June period. That’s up from USD 331 million, or 13 cents per share, in the same quarter an year ago.

Few days back, Facebook software engineer, Daniel Giambalvohas introduced a save memory feature, allowing users to bookmark various links, songs, restaurants and other interests seen throughout their news feeds to check out later. Recently, it had rolled out a new feature for all users – the ‘ask’ button, enables users to ‘ask’ their friends about the information like job, address, relationship status etc. At present, the company having around 1.32 billion monthly users with employee base of 6,818. It having a total capital of USD 2.4 billion, has made investment in 3 companies and acquired 49 companies including this latest one.

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Also,  the company has unveiled its new AVATAR for worldwide audience to manage streams of feed coming in users activity timeline. Apart from this, Facebook had announced a video discovery tool to surface higher-quality videos by analyzing how long users actually watch each video. It had also launched Anniversary Story for FB Couples.

The Menlo Park, California, social networking giant has continued to experiment with new ways to generate revenue, including a new “buy” button, which allows users to purchase products directly from a vendor without leaving the Facebook website.

To contact the author, email at sujata@iamwire.com.