Facebook said to be shopping for a security company

Social network giant Facebook is speculated to be close to acquiring a cybersecurity company to shore up its of data protection capability.

In the wake of a massive security breach, with 29 million users’ data compromised, Facebook is desperately scrambling for a quick and effective solution. One way of doing so, in addition to working with the FBI, is shopping. The Information reported that according to four separate sources, Facebook has approached several unidentified cybersecurity companies for acquisition. One source told the online technology publication that a deal with one of the target companies could be reached before the end of the year.

A professional security solution sourced from outside could help refresh Facebook’s internal measures that might have overlooked vulnerabilities. The leak in late September, which initially was thought to have affected up to 50 million users, resulted from a coding loophole in the “View As” feature, which was attacked by an unknown party disguised as a 3^rd-party marketing company. Facebook later clarified that about 30 million users actually had their access tokens stolen, but the attackers failed to gather information on 1 million of them.

On top of the technical expertise to be acquired, a high-profile purchase of a security company would also improve the perception that Facebook is serious about safeguarding user data. The company’s reputation has been repeatedly battered since the Cambridge Analytica scandal, prompting it to go more aggressive with its PR strategy. After recruiting a high calibre ex-politician to its team, adding a professional security solution to its toolkit would do no harm.