Broadcom acquires cyber risk analytics firm Bay Dynamics

Broadcom, a renowned American manufacturer, and supplier of infrastructure software products and semiconductors, reportedly appears to have silently procured Bay Dynamics, a company that develops cyber risk analytics software, as per the regulatory documents that were filed by the company with the U.S. SEC (Securities and Exchange Commission).
Neither of the two companies have made any official announcement, but according to an equity incentive plan filed at the SEC, the California-based chipmaker has inked a strategic merger agreement to procure Bay Dynamics as its subsidiary on 19 December.
Bay Dynamics is a cyber risk software company which was founded in 2001 and is based out of New York. It was valued for $92 million as per the reports on July 2016, after gathering about $31 million in an investment round.
This acquisition comes as the newest step in the company's buildout of its security business. The massive $125.7 billion organization presently sells payment security, API (application programming interface) security platform, as well as access management software. Recently, in November 2019, the company bought enterprise security business of Symantec for $10.7 billion.
Since 2017, cyber risk company Bay Dynamics had been a technology partner of Symantec, offering a "Risk Fabric" analytics platform that offered companies a central point of behavioral analytics to defend and protect their information from malicious attacks, as per a 2018 blog posted by Ryan Stolte, co-founder, Bay Dynamics. The collaboration meant that the company's products were combined with Symantec's portfolio.
Bay Dynamics sells a software that prevents data loss, uncovers malicious insiders and detects unusual behavior. The company sells its software products to consumers in media, financial services, manufacturing, technology, healthcare, and the federal government.
This acquisition is not the only M&A transaction under progress at Broadcom in recent times. The Wall Street Journal also reported recently that the company is looking for a buyer for its business division that creates radio frequency chips that are used in smartphones.
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