Mimecast snaps up security software developer Solebit in $88m deal
Mimecast has acquired Solebit in an all-cash deal worth $88 million.
Security
On Tuesday, the email and data security company, based in London, said the deal will bolster the Mimecast enterprise security portfolio by providing a "fast, accurate and computationally efficient approach to identifying and isolating advanced cyberattacks, zero-day threats, and malware."
San Francisco-based Solebit, which also has offices in Israel, claims to take a different approach to modern cyberthreats.
The firm's software is developed in order to detect cyberattacks and suspicious behavior without the need for signatures or sandboxing.
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Solebit's technology scans content in real-time as it enters an organization's system in order to detect malicious code within active content and data files. The firm's solutions have already been integrated into Mimecast threat protection products.
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"Security methods like signature-based antivirus and sandbox detonation are too limited when it comes to today's most advanced threats. It's time for a more capable, efficient and durable approach," said Peter Bauer, Mimecast CEO. "We're excited to welcome Solebit into the Mimecast family, as it helps us to offer customers a new approach that fundamentally improves their cybersecurity and resilience efficacy in the most efficient way on the market."
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The acquisition builds on the purchase of Ataata in July this year. Ataata is a cybersecurity training and awareness platform designed to tweak the behavior of enterprise employees by giving them more knowledge and experience of modern cyberattacks and threat vectors.
Ataata's training modules are sent to employees on a monthly basis in digestible chunks to gradually improve skill and knowledge "ranks" when it comes to cybersecurity awareness, which, over time, should reduce the risk of successful attacks on the enterprise made possible through human error.