Akamai Technologies is in advanced acquisition talks with Noname Security, an API cybersecurity startup, according to a people person familiar with the deal.

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API startup Noname Security is in advanced talks with Akamai Technologies for a $500M deal. Noname has raised $220M from venture investors and was last valued at $1 billion. The sale price is a significant discount, but investors at the early stage will receive a meaningful return. The deal values the company at about 15X annual recurring revenue.

API startup Noname Security nears $500M deal to sell itself to Akamai