Kicking off its OpenWorld business and technology conference Sept. 18, Oracle announced it’s acquiring Palerra, a Santa Clara, Calif.-based tech company that focuses on providing security for applications and data stored on cloud services.
Oracle will incorporate Palerra’s cloud access security broker (CASB) product LORIC with its own Identity Cloud Service (IDaaS) solution, to offer better data security, cloud usage visibility, automated incident responses, and overall improved protection for users, applications and APIs.
Terms of the deal were not disclosed, however, Oracle does expect to retain Palerra’s team, according to a statement from Peter Barker, SVP of identity management and security products for Oracle.
“Oracle is committed to protecting and enhancing customer investments in Palerra solutions,” an Oracle statement regarding the transaction reads. “After the close of the transaction, Oracle plans to continue to invest in Palerra. In addition, Palerra customers will benefit from better integration and alignment with Oracle’s other product offerings.”
￼￼￼￼Palerra CEO Rohit Gupta said that his company was founded on enabling enterprise adoption of cloud and software as a service (SaaS) applications by diminishing the concerns companies have regarding security. The combination of his company’s cloud security work with Oracle’s scale will “help accelerate cloud adoption securely by providing comprehensive identity and security cloud services,” he said.
“The combination of Oracle’s Identity Cloud Service and Palerra’s CASB platform plan to deliver comprehensive protection for users, applications and APIs, data, and infrastructure to secure enterprises in their adoption of Cloud and SaaS applications,” Gupta added.