Facebook in the Market for a Cybersecurity Company

Facebook has seen some data breaches in the last few months, leading the company to look into acquiring a cybersecurity company.

• By Sydny Shepard
• Oct 23, 2018

Following several high profile data breaches, Facebook is looking to acquire a cybersecurity company according to The Information.

The article cites four people familiar with the matter who say Facebook has approached a number of cybersecurity companies with a view to a possible acquisition. Sources declined to tell The Information which companies were in talks with Facebook, but one said a deal could come as soon as the end of the year.

Facebook has reportedly assembled a team to help determine companies that could help bolster cybersecurity expertise and to quell public criticism of its data protection. 

Just last month, the social media platform disclosed that it had detected the biggest data breach in its history which affected some 30 million users. Facebook stated in October that it believed spammers, not state-sponsored agents, were behind the hack.