OpenText Corporation has announced its acquisition of Pillr, an MDR platform, from Novacoast, Inc. Pillr’s cloud-native technology specializes in providing Managed Detection and Response (MDR) services for Managed Service Providers (MSPs), offering robust threat-hunting capabilities.
This acquisition aligns with OpenText’s strategic goal of bolstering its cybersecurity product roadmap to provide comprehensive solutions for threat protection, detection, and response. Mark J. Barrenechea, OpenText CEO & CTO, emphasized the importance of advanced MDR solutions in the face of rising cyber threats and highlighted the value of Pillr’s platform in enhancing OpenText’s cybersecurity offerings.
The integration of Pillr’s technology with OpenText’s cybersecurity expertise will enable customers to benefit from enhanced threat monitoring and response capabilities. OpenText aims to address skill gaps, shortages, and alert fatigue prevalent in today’s cybersecurity landscape by providing advanced MDR solutions. This acquisition underscores OpenText’s commitment to its SMB partners and customers by offering a comprehensive suite of cybersecurity solutions to mitigate evolving cyber threats effectively.
While the financial details of the acquisition were not disclosed, OpenText assures that the transaction is not material to its financial results. This strategic move reinforces OpenText’s position as a leader in the cybersecurity market and demonstrates its dedication to delivering innovative solutions to protect organizations from cyber threats.
