Facebook is looking to acquire a major cybersecurity firm as part of a strategy to strengthen data protection, thwart hackers, and boost its reputation for customer privacy, according to The Information.
Potential targets could include such companies as Demisto, JASK, Swimlane and/or ZeroFOX, the report states. Still, there's no guarantee that such a deal will surface.
Facebook has faced multiple breaches, data leaks and violations of how partners use data culled from the massive social media network. The breaches could trigger major fines related to GDPR (general data protection regulation), a European Union compliance effort that activated in May 2018. The data privacy and misuse issues have also involved foreign governments allegedly using the system to influence U.S. elections.
Amid the controversy, Facebook has faced rising costs to safeguard its network. Moreover, the company's stock has been pressured multiple times as some investors seek to distance themselves from Facebook's security challenges.
Facebook has been known to leverage open source software and commodity hardware to build its own data center solutions. The effort includes Facebook's Open Wedge Switch, which may wind up competing with more traditional Cisco networking gear.