Proofpoint Acquires Meta Networks for Nearly $120m
In a move expected to augment its cloud-based architecture and people-centric security platform, Proofpoint announced that it has entered into a definitive agreement to acquire zero trust network access innovator, Meta Networks.
Subject to customary closing conditions, the deal is expected to close at the end of Q2 2019. The acquisition will allow Proofpoint to improve its existing capabilities by integrating Meta Networks’ technology into its cloud access security broker (CASB) and web isolation products.
“Protecting people and resources beyond the traditional perimeter is perhaps the most critical security requirement in the cloud era,” said Etay Bogner, founder and CEO of Meta Networks.
“Together with Proofpoint, we will continue to realize a security vision that adapts to the way both threats and infrastructure are moving: to the cloud. Proofpoint is at the forefront of this transformation and we are very excited to become a part of an incredible team.”
At approximately $111 million in cash and an additional $9 million in Proofpoint stock options, the purchase will enable customers to protect the applications and data their people access beyond the traditional perimeter, according to the press release.
“As cyber attacks primarily target people, and organizations continue to move their infrastructure to the cloud, the compromise of a single user all too often leads to a full enterprise breach. Limiting employee and contractor access to only authorized resources, rather than the entire corporate network, is a critical control in a people-centric security model,” said Proofpoint CEO Gary Steele in the release.
“By combining Meta Networks’ innovative zero trust network access technology with our people-centric security capabilities, Proofpoint will make it far simpler for enterprises to precisely control employee and contractor access to on-premises, cloud and consumer applications. We are thrilled to welcome Meta Networks employees to the Proofpoint team.”
Source: Information Security Magazine