As a part of its vision to provide comprehensive and identity security for its customers Oracle is going to acquire Palerra, a software vendor for securing cloud service. A Cloud Access Security Broker product has been offered by Palerra called Loric. Loric offers a combination of data security, security configuration, cloud usage, user behavior analytics with automated incident responses. Larry Ellison Oracle’s executive chairman and chief technology officer said in his keynote speech at the Oracle OpenWorld conference that he think to their overall cloud security portfolio, it is an important addition. Both the companies will continue to operate independently till the deal is closed. The financial terms of the deal have not been disclosed. According to the startup, after the deal is closed the Palerra leadership and team will join Oracle.
Palerra was backed by the Wing Venture Capital, August Capital, and Northwest Venture Partners and was founded in 2013. Rohit Gupta, CEO, and co-founder of Palerra wrote in a blog post that security for the cloud has become the top precedence along with the histrionic development of the cloud technology in the organization. To deliver comprehensive protection for the users Oracle is planning to merge Palerra’s CASB service with its own IDaaS (Oracle Identity Cloud Service).