FX.co ★ Open Text Buys Pillr From Novacoast

Open Text (OTEX) has acquired Pillr, a Managed Detection and Response (MDR) platform from Novacoast, Inc. Pillr's technology is a cloud-native, multi-tenant MDR platform tailored for Managed Service Providers (MSPs), encompassing robust threat-hunting capabilities alongside managed detection and response functionalities.

According to Open Text, this acquisition expedites their Cybersecurity product development, enabling them to offer essential features such as API integrations and product/pricing bundling for MSPs. This comprehensive solution aims to protect, detect, and respond to cybersecurity threats effectively. Open Text also mentioned that the acquisition of Pillr technology is not significant to their financial outcomes.