Facebook reportedly shopping for a cybersecurity company

From cnet.com

Facebook wants its billions of users to know it cares about beefing up security in the wake of a major security breach, and now it appears the social media giant is ready to spend some money on a major cybersecurity acquisition to make it happen.

Facebook has approached several security companies about a possible acquisition, The Information reported Sunday, citing sources described as familiar with the matter. Possible takeover targets weren’t identified, but the tech news outlet said a deal could be announced as soon as the end of the year.

Facebook’s push to reinforce its security comes less than a month after what the company calls the biggest security breach in its history. The social network originally suspected as many as 50 million user accounts were affected but now believes it compromised the personal information for 29 million users, including phone numbers, email addresses and recent searches.

Facebook has tentatively concluded that spammers masquerading as a digital marketing company were behind the massive security breach, and not hackers working for a nation-state, according to the Wall Street Journal.

Read more…