Cybersecurity firm Barracuda acquires startup Fyde for its remote access tool
Barracuda, a California-based cybersecurity company, recently acquired Fyde, a small startup that provides security patches to remote projects and employees.
Fyde is a proprietor of Zero Trust Network Access Network that creates a security bubble around employees working in remote environments.
The Zero Trust Access Network provides a proxy-based additional layer of security, which is easy to configure and set up. The SaaS has the ability to identify malicious domains from existing as campaigns and phishing sites, ensuring that company systems are kept away from malware-ridden web content.
Fyde is expected to provide equipment to employees working from home on BYOD (Bring Your Own Device) computers. The company will provide quick and secure access to cloud and on-site applications and projects.
While the deal was closed in the last days of October, the finer details have not been disclosed yet. However, it was confirmed that all 12 employees of Fyde would join Barracuda. Fyde CEO Sinan Eren will remain in Barracuda, as VP of Zero Trust Access Network.
Currently serving 1000 to 5000 customers, Fyde wants its groundbreaking remote access platform to work on a bigger network to attract new business.
Barracuda acquisition has changed Fyde’s business model. Initially, Fyde only sold its Zero Trust Access Network to specific CISOs (Chief Information Security Officers) affiliated to CEO Eren. However, now, Barracuda chief executive Klaus Gheri said that the tool will be marketed through MSPs, or other channels on a standalone basis, or under the company’s CloudGen Firewall offering.