*By Carlo Versano* As Facebook tries to shore up its platform against hackers and show its 2 billion monthly users that it takes their concerns about privacy seriously, the company is actively seeking to acquire a major cybersecurity firm, according to a [report](https://www.theinformation.com/articles/facebook-on-hunt-for-big-cybersecurity-acquisition) in The Information. One of the authors of that story, Sarah Kuranda, told Cheddar Monday that the acquisition could happen by the end of 2018. Facebook's ($FB) leaders are cognizant of the "climate" a year of bad headlines has created ー from the Cambridge Analytica data-harvesting scandal to the most recent breach of 30 million accounts ー both in Washington and among users. "If you look at the last year for Facebook, security and privacy have been a big problem for the company," Kuranda said. An acquisition of a firm that specializes in hacking protections would be a twofold strategy for the social media giant, according to Kuranda: it would add technical capabilities to Facebook's back-end infrastructure and "makes a statement that they're stepping up their efforts in cyber security." But it would still not be a panacea for a company that now handles personal data for almost a quarter of the world's population. "The challenge with cybersecurity is more investment does not necessarily correlate to better outcomes," Kuranda said. And all the investment and resources may be all for naught if there's a single breach. Hackers are "getting smarter every day," Kuranda said ー and Facebook represents one of the most appealing targets, given its size. Users are increasingly reassessing their relationship with the platform because of these concerns. More than half of active Facebook users [said](http://www.pewresearch.org/fact-tank/2018/09/05/americans-are-changing-their-relationship-with-facebook/) they adjusted their privacy settings in the last year, and a poll from earlier this year [showed](https://www.nbcnews.com/business/consumer/trust-facebook-has-dropped-51-percent-cambridge-analytica-scandal-n867011) that trust in the company dropped a staggering 66 percent in just a few months. "People are definitely paying attention," Kuranda said. For full interview [click here](https://cheddar.com/videos/facebook-on-the-acquisition-hunt-for-cybersecurity-firm).

Share:
More In Business
Don't Be 'The Bear.' Take Your Business From Stressful to Successful
Did you happen to watch the series The Bear? The show follows a struggling small business owner in Chicago who is trying to save his business.  It's a story a lot of small business owners in the U.S. can relate to. To help out these struggling entrepreneurs, Cheddar News brought on an expert here to help take your company from stressful to successful.
GOP AGs Move Anti-Affirmative Action Fight to the Workplace
The court’s ruling applies to higher education institutions and other entities that receive federal funding and doesn’t directly change private employer obligations, but business leaders might pull back diversity, equity and inclusion programs to avoid lawsuits.
Load More