International cyber security giant Symantec Corp. (Nasdaq: SYMC) today announced that it is acquiring Israeli cyber security company Fireglass. No financial details about the deal were disclosed but media reports in Israel say that Symantec will pay $250 million for the Tel Aviv based company.
Fireglass was founded in 2014 by CEO Guy Guzner, formerly of Check Point and CTO Dan Amiga, formerly of Schneider Electric. The company raised $20 million last year from Norwest Venture Partners, Lightspeed Venture Partners, Singtel Innov8, co-founder of Imperva and Trusteer Mickey Boodaei and co-founder of Trusteer, Rakesh Loonkar. Fireglass has 40 employees.
The company has developed an agentless isolation solution that eliminates ransomware, malware and phishing threats in real-time by preventing potentially harmful content from ever reaching user endpoints or the corporate network. Symantec sees the acquisition as strengthening its Integrated Cyber Defense Platform and extending its capabilities in Secure Web Gateway and Email protection delivered both on premises and in the cloud.
Symantec CEO Greg Clark said, "Integrating Fireglass’ isolation technology with Symantec’s existing endpoint, email and secure web gateway solutions could reduce security events by as much as 70%, while virtually eliminating advanced threats spread by web browsing or email content. Isolation will become a core component in the design of cyber defense architectures for the cloud generation who face the reality of an encrypted Internet and the crisis inherent in email and web-delivered attacks. The ability for the security team to take an aggressive stance on unknown websites and questionable attachments without causing chaos for a company’s users and IT help desk is now a reality. Isolation is a key element of securing the cloud generation and is even a productivity gain for both the end user and security operations center." Guzner said, "We’ve long admired Symantec for their leadership in protecting customers’ critical information. Fireglass’ industry-leading isolation technology helps customers battle zero-day attacks and other serious vulnerabilities, making it an essential element for protecting email, messaging and web browsing. It easily integrates with existing security solutions and across all forms of the endpoint including Windows, Mac, Android, iOS and all others including browser-enabled IoT devices. With Symantec’s global scale, we’re excited to bring this groundbreaking technology into the hands of more customers."
Published by Globes [online], Israel business news - www.globes-online.com - on July 6, 2017
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