From Nasdaq: 2024-05-24 11:21:00

OpenText has acquired the managed detection and response platform Pillr from Novacoast, enhancing its cybersecurity services for MSPs. Pillr offers 24/7 threat detection and mitigation through a cloud-based model. This acquisition strengthens OpenText’s position in the SMB cybersecurity market, complementing its previous acquisitions like Micro Focus and Zix.

The integration of Pillr will enable OpenText to offer API integrations, advanced threat analysis, and intelligence gathering. Pillr’s combination of human expertise with AI and automation enhances its cybersecurity solutions. Despite potential economic headwinds, OpenText remains focused on expanding its portfolio and client base through strategic acquisitions.

OpenText’s recent acquisitions, including Pillr, have bolstered the company’s offerings, helping it expand globally and cater to diverse cybersecurity needs. Despite near-term economic uncertainties, OpenText continues to invest in R&D and expand its product capabilities. Investors can also consider other tech stocks like AppFolio, Arista Networks, and Alphabet for potential growth opportunities.

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Read more at Nasdaq: OpenText (OTEX) Acquires Pillr to Boost Cybersecurity Offerings