- The acquisition is anticipated to finalize during Cisco’s first fiscal quarter, which ends on October 29.
- Oort checks an organization’s IAM systems for any possible configuration errors that could leave a system vulnerable to attack.
Cisco Systems Inc. announced the acquisition of Oort Inc., a startup that protects identity and access management systems that businesses use against hackers.
Financial details of the deal are still not disclosed. Oort, based in Boston, previously raised USD15 million in funding, with a chunk of that coming from Cisco’s venture capital arm last year. The well-known investment company Bain Capital Ventures is another supporter of the startup.
Identity and access management or IAM systems have an antivirus component that Oort provides as a software platform. Companies use these systems to control which employees can access specific internal applications and how. IAM software is a top target for hackers due to its crucial role in an organization’s cybersecurity operations.
The Oort platform gathers telemetry data from an organization’s IAM systems and examines it for indications of malicious activity. The company claims that its platform can identify numerous widespread cybersecurity problems.
Certain IAM systems employ cookies downloaded to users’ computers to validate login requests. If there’s a valid cookie on a hard drive, the login requests from a device are accepted. In other situations, access tokens, which have different technical properties but perform a similar function to a password, validate sign-in attempts.
Hackers may be able to access the application a user is currently connected to if they get their hands on that user’s cookie or access token. According to Oort, its platform can automatically identify these hacking efforts. The platform can also detect other hacking techniques, such as brute-force attacks where hackers try to guess users’ passwords.
Chief Product Officer of Cisco’s cybersecurity business, Raj Chopra, stated, “If an attacker stole an employee’s credentials, giving them access to twenty different systems, Oort can identify the four systems that were actually compromised and require further remediation.”
Administrators may quickly fix cybersecurity risks discovered by Oort with a few clicks. The platform offers a feature that may be used to lock out accounts that are acting maliciously swiftly. Additionally, it enables users to suspend their accounts temporarily as needed.
The platform’s features also cover other facets of IAM security. Oort claims that its platform may assist businesses in detecting cyberattacks and averting them altogether.
Oort checks an organization’s IAM systems for any possible configuration errors that could leave a system vulnerable to attack. For instance, the platform can locate accounts with unused access to private apps. The more users access a susceptible system, the more chances hackers get to compromise it by spamming login credentials.
Additionally, it finds accounts that are often used yet might be misconfigured. The company claims its platform can identify instances when an account may have been provided access to more applications than required. If ignored, such excessive access rights might expand the scope of data breaches.
The acquisition is anticipated to finalize during Cisco’s first fiscal quarter, which ends on October 29. The corporation will then incorporate Oort into its cybersecurity division. Cisco will use the technology to improve the XDR (extended detection and response) and IAM security product lineups.