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Facebook plans to acquire a major cybersecurity firm for preventing future data breaches

Oct 22, 2018, 9:23 am

To salvage reputation over user data protection, Facebook is now hunting for cybersecurity firms to acquire. The social networking giant is said to have offered deals to “several” cybersecurity companies.

Facebook is still trying to reel from the hack that exposed 29 million users. According to a report by The Information Facebook is accelerating plans to buy a “major” cybersecurity company, and has already offered deals to “several” companies. It is rumored that Zuckerberg and team are reportedly to buy software that could fold into its existing services, such as tools for signaling hacking attempts or securing individual accounts.

An acquisition could help Facebook bolster its defenses, improve its expertise and reduce the chances of a coding mistake compromising millions of users. It might also be as much about the perception behind any such move as anything else. 

The software suite is expected to include analytics and even the ability to flag unauthorized access. The acquisition will help Facebook gain more expertise in the cyber security space, according to the report. The deal is expected to be finalized by end of this year.

Well’ this is not the first time for Facebook to go on a shopping spree to bolster security. The company also runs Bug Bounty programmes to invite the public to find out loopholes and security risks.

The company admits 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.

Between the hack and previous incidents like the Cambridge Analytica scandal, Facebook’s trustworthiness has taken a tumble. A large purchase would signal that the company is serious about upgrading its security, even if the newly-bought technology is only partially useful.

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