US cyber security company Proofpoint Inc. (Nasdaq: PFPT) has acquired Israeli cloud security company FireLayers. Proofpoint will pay $46 million in cash and $9 million in shares for the Herzliya based company.
“We built FireLayers with one goal: to help enterprises secure their cloud applicationsand we are thrilled to accelerate our mission and bring Proofpoint’s exceptional capabilities to SaaS applications,” said Yair Grindlinger, CEO and co-founder of FireLayers. “Our decision to join Proofpoint is based on its high caliber cybersecurity innovation and effectiveness at protecting customers worldwide from advanced threats. And the new Proofpoint Israel office extends that exceptional leadership presence into Israel for long-term success.”
Grindlinger and president Doron Elgressy, and YL Ventures, which led the company's first financing round., founded FireLayers.
“FireLayers gives us a platform to scale and protect the thousands of SaaS applications that enterprises use, as well as a seasoned product and engineering team to execute,” said Gary Steele, Proofpoint CEO. “Also, as part of today’s news, we are pleased to expand our global cyber security presence in EMEA with a new office location in Israel.”
The new FireLayers-powered SaaS application threat intelligence will feed the Proofpoint Nexus platform to amplify Proofpoint’s correlated threat intelligence across its global ecosystem.
Published by Globes [online], Israel business news - www.globes-online.com - on October 21, 2016
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