Snyk Entering Cloud Security Market via Fugue Acquisition

Snyk, the cloud-native application security provider, is entering the cloud security market by acquiring Fugue, a cloud security and compliance company.

A fast growing segment of cybersecurity, the global cloud security market should be worth $77.5 billion by 2026, according to MarketsandMarkets. That’s up from nearly $41 billion last year.

By joining forces with Snyk, Fugue’s capabilities will soon extend the Snyk developer security platform. That will provide a cloud security posture management (CSPM) tool designed by and for developers.

Snyk isn’t saying how much it’s paying for Fugue.

‘Unique’ Solution for Partners

Ravi Maira is Snyk’s head of product marketing.

Snyk’s Ravi Maira

“With this acquisition and the integration of Fugue’s product into the Snyk developer security platform, Snyk’s partners will be able to bring this unique, developer-focused cloud security solution to their customers that are looking to expand their use of cloud-native technologies to deploy applications and need to scale their security programs to meet the pace of innovation required in today’s digitally transforming world,” he said. “It will also allow partners to build services around implementing and optimizing this solution into DevOps and security workflows.”

Oher CSPM solutions can detect vulnerabilities in deployment, Maira said. And some infrastructure-as-code security tools can find security risks in configuration. Snyk’s solution will connect the two. Therefore, DevSecOps teams can resolve cloud security issues and get back to innovating.

Fixing Security Solutions in Applications

Snyk’s mission is to be the platform developers use to find and fix security issues in the applications they create, Maira said. The addition of Fugue will enhance this mission. It’ll provide visibility into the security of applications and the cloud services they use,” he said.

The acquisition of Fugue is Snyk’s fifth in the last year-and-a-half, following the successful integrations of CloudSkiff, FossID, Manifold and DeepCode. This latest corporate development also follows the company’s late 2021 announcement of over $600 million in Series F investment.