London-based cyber security unicorn Synk has announced it is acquiring Fugue, a cloud security compliance firm, for an undisclosed fee.
The deal marks Synk's first move into cloud security where it hopes to capitalise on its increasing market value, which is predicted to be worth $77.5 billion by 2026, according to analysts at MarketsandMarkets.
Fugue, a US company headquartered in Maryland, is best-known for its Unified Policy Engine, which covers systems development lifecycles for areas such as cloud posture and configuration codes. The firm also offers API and command-line tools for developer automation, as well as compliance frameworks.
The company was founded in 2013 by former AWS solutions architect, Josh Stella. It originally offered its tech as an "infrastructure-as-code" service before switching to security. And that original focus on code has proved to be a key part of the acquisition as it suits Synk's focus on devops.
Synk plans to integrate Fugue's suite of services into its Developer Security Platform, which it claims will be the industry's first cloud service posture management (CSPM) solution designed by, and for, developers. As such, Synk customers will be the first to benefit from "unmatched" feedback loops that allow developers to secure codes before deployment and maintain their integrity while running them.
"Welcoming the talented Fugue team as our newest Snykers is a fantastic way to kick off 2022," said Peter McKay, CEO, Snyk. "Together, we'll collectively reimagine what cloud security can and should look like for today's modern DevSecOps teams, ensuring more secure innovation can flourish worldwide."
This is Synk's fifth cloud-based acquisition in the last 18 months, following on from deals for CloudSkiff, FissID, Manifold and DeepCode. The London-based cyber security business was one of IT Pro's startups to watch in 2021 and has managed to scale up rapidly since its inception in 2015.
