API security startup Wib has been purchased by US cyber giant F5. While the value of the acquisition remains undisclosed, reports suggest it to be in the ballpark of tens of millions of dollars.

There has been a significant increase in security issues as AI fuels the expansion of apps and APIs. API connections and associated data’s protection have emerged as a critical security challenge for companies as they introduce more AI-powered services.

F5, boasting a market cap of roughly 11 billion on Nasdaq, intends to incorporate Wib’s proficiency into its Distributed Cloud Services. This incorporation will enable vulnerability detection and observability throughout the app development process, ensuring risks are spotted and policies are implemented before APIs proceed to production.

Wib’s API security platform offers comprehensive visibility across the entire API landscape, from coding to manufacturing. With its capacity to control real-time assessment management at each API life cycle stage, Wib can automate inventory and API change management, detect rouge, zombie, and shadow APIs, and assess business risk and impact.

In November 2022, Wib had received a $16 million investment led by Koch Disruptive Technologies, with Kmehin Ventures, Venture Israel, Techstars, and existing investors participating. The startup, founded in August 2021, maintains its headquarters in Tel Aviv and has an international presence in Houston and London.

The startup’s employees will join F5’s headquarters in Israel, marking F5’s fifth acquisition in the country. Its previous acquisitions include web anti-fraud company Versafe, load management solutions firm Traffix Systems, MagniFire Websystems, and Crescendo Networks.

Source: API security startup Wib acquired by F5 for tens of millions of dollars }}.