APImetrics Inc and Contxt Ltd Intend To Merge, Creating a Powerhouse in API Governance, Security and Performance
— Don Thibeau, Vice Chair of The Open Identity Exchange
SEATTLE, WA, USA, September 14, 2023/EINPresswire.com/ — APImetrics Inc, a pioneer in API monitoring, and Contxt Ltd, a leader in API privacy and security, announced today that they have agreed to merge, bringing together the expertise and innovative solutions of both companies to address the growing challenges faced by organizations in creating highly reliable, productized APIs.
APImetrics was founded to tackle the performance and compliance challenges prevalent in open API ecosystems.
Traditional API platforms and developer tools often fail to address the crucial aspects of continuously validating high-value APIs, especially within regulated industries.
Contxt shares a similar focus on these challenges, with a notable emphasis on data safety, weak authentication, and robust conformance tracking. The founding team brings a wealth of experience in authentication and authorization over a decade in the API and identity sectors.
“By merging the capabilities of both companies, the combined entity has the right platform and team to meet the needs of all API stakeholders,” said Don Thibeau, Vice Chair of The Open Identity Exchange and a Board Advisor to both companies. “This positions the company as a world-class organization and leaders in the industry.”
The combined company aims to provide organizations with end-to-end visibility, proactive security measures, and comprehensive monitoring capabilities for their APIs. The platform empowers businesses to optimize API performance, mitigate security risks, ensure regulatory compliance, and deliver exceptional user experiences.
“Our shared vision is to provide organizations with a unified platform that combines comprehensive API monitoring with robust security measures,” said David O’Neill, CEO of APImetrics Inc. “By offering real-time visibility, proactive security assessments, and actionable insights, we enable businesses to have confidence in all aspects of their API supply chains.”
Mayur Upadhyaya, CEO of Contxt Ltd, added, “This merger marks a significant milestone for both companies and the API industry as a whole. We will deliver a powerful solution that addresses the critical needs of businesses in creating API products, by focusing on performance, security, and compliance, so API development teams can create business value. By leveraging our combined expertise and technologies, we are well-positioned to drive innovation and support API products now and into the future.”
The new company will be headquartered in Seattle, with offices in London, Edinburgh, and Portland, OR. The company will continue to serve and support its existing customer base while expanding its offerings to meet the evolving needs of the market.
The merger is subject to customary closing conditions and regulatory approvals. The parties expect to complete the transaction by 1st Oct 2023. Financial terms of the merger were not disclosed.
APImetrics was founded to focus on the challenges we saw in monitoring the API economy, where conventional tools were completely missing the problems with APIs that were impacting developers. APImetrics now has hundreds of users all over the world and a client base full of household names across the Fintech, Enterprise IT, IoT, and Telco sectors.
Contxt is a leader in API security, offering end-to-end visibility from edge to application. Our solution continuously monitors APIs, detecting personal data movement and preventing security regressions. It compares APIs across environments and seamlessly integrates with existing workflows for actionable insights. With a “shift-left, shield-right” approach, Contxt ensures that sensitive data never leaves your infrastructure, underpinning a proactive stance on data privacy and security.
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