Mimecast buys Israeli cybersecurity co Segasec

Cybersecurity Photo: Shutterstock ASAP Creative

Mimecast says that the acquisition will enable its customers to better defend against attacks that leverage fake websites and domains for credential harvesting.

Email and data protection company Mimecast Ltd. (NASDAQ: MIME) today announced the acquisition Israeli digital threat protection company Segasec. No financial details about the acquisition were disclosed.

Mimecast says that the acquisition will enable its customers to better defend against attacks that leverage fake websites and domains for credential harvesting of their customers, employees, partners, and third party vendors within their supply chains. Hackers are using sophisticated techniques to target organizations of all sizes and in all industries by using their brands as bait to launch attacks.

Mimecast adds that with the acquisition of Tel Aviv-based Segasec, it will be able to provide brand exploit protection using machine learning to identify potential hackers at the earliest stages of an attack. The solution also is engineered to provide a way to actively monitor, manage, block and take down phishing scams or impersonation attempts on the web.

Mimecast CEO Peter Bauer said, "Segasec will allow our customers to take a proactive approach to identifying - and even potentially preventing - attacks that imitate their brands using domains they don’t own, while also offering the visibility required to understand how their brands are being misused for malicious intent."

Segasec’s technology is designed to monitor domains on the internet for suspected malicious activity and continuously surfaces the riskiest ones.

Segasec cofounder and CEO Elad Schulman said, "In today’s increasingly digital economy, we rely so heavily on websites and email to interact with businesses in both our professional and personal lives. As such, brand exploitation has been on the rise, as cybercriminals co-opt the brands we depend on and violate our trust. The powerful combination of Mimecast and Segasec will help customers better protect their brands, customers and other external stakeholders, as well as their own employees."

Segasec's chairman is Ido Yablonka, the former CEO of Yahoo Israel and president of PureSec, which was acquired by Palo Alto Networks in June 2019. The first investor in the company was Innogy Innovation Hub, the investment fund of German energy company Innogy SE, managed in Israel by Mickey Steiner. 

Published by Globes, Israel business news - en.globes.co.il - on January 6, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Cybersecurity Photo: Shutterstock ASAP Creative
Cybersecurity Photo: Shutterstock ASAP Creative
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