Facebook continuously shows its financial strength by way of acquisitions. The most popular and used social media network in the world has recently announced its purchase of another startup, PrivateCore. It did not disclose financial terms of the transaction.
PrivateCore develops software that is helpful in validating and securing server data. It is expected that with the acquisition, Facebook would eventually integrate the acquisition’s services and features into its own.
It can be recalled that Facebook completed its very own default ‘https’ encryption over a year ago. Since then, it has been working to secure all of its data trafficking especially between its users.
More for security
In a statement, PrivateCore applauded Facebook for already doing more than it could possibly do to connect the world. But it said it would utilize its secure server technology to help make such broadened connections more secure.
PrivateCore has expressed confidence that its own vCage technology would be particularly advantageous to Facebook. That technology can effectively provide greater protection against unauthorized access, malware, and malicious hardware.
PrivateCore also believes that its technology as well as expertise can be beneficial to Facebook. It said it can support the acquirer’s mission to make this world more open and more connected especially in a secure and trusted approach.
The startup also sees the acquisition as a huge and important opportunity for it to share a joint vision with the company. It also thinks that it can now work on a scale with a great and incredible impact, something that businesses its size rarely realize.
In the end, PrivateCore said it expects to continue learning and growing as it continues development of its own technology. It also hopes the transaction would make it a stronger organization. It did not disclose details about the terms of the acquisition. Facebook also remains mum about the financial aspect of the acquisition.
As mentioned, Facebook continues a buying spree. It has made significant acquisitions in the past when it bought Instagram followed by Oculus VR and WhatsApp. It has also acquired a number of startups and small firms like Moves (mobile fitness tracking app), LiveRail (video advertising company), and Pryte (Finland-based mobile data startup).