Check Point Software Technologies has signed a deal to acquire Perimeter 81, an Israeli cybersecurity startup launched in 2018, the company announced.
“With this acquisition, Check Point will help organizations accelerate the adoption of secure access across remote users, sites, cloud, datacenters, and the internet, all while aiming to deliver the most secure and fastest SSE solution in the market,” the company said in a statement.
Check Point is an American-Israeli multinational provider of software and combined hardware and software products for IT security, headquartered in Tel Aviv. The company, founded in 1993 in Ramat Gan, had approximately 6,000 employees worldwide as of 2021.
Check Point will pay $490 million to acquire the Tel Aviv-based Perimeter 81 which has a team of more than 200 employees, and which serves 3,000 customers worldwide.
The company helps workers securely log into their companies’ internal applications through a Secure Access Service Edge (SASE) software.
The agreement is expected to be completed by September 30.
It is a “cash free, debt free” deal, which the news outlet explained means Check Point does not assume any of the cash or debt on Perimeter 81’s balance sheet.
“With the advent of hybrid work and the rise of cloud transformation, the demand for security services that expand beyond the network perimeter is increasing,” said Gil Shwed, CEO at Check Point Software Technologies.
“By leveraging Perimeter 81´s capabilities and integrating them into the Check Point Infinity platform we continue with our vision to deliver the best security through comprehensive, collaborative and consolidated solutions.”
“This strategic move marks an exciting period for our company, partners, and customers. By joining Check Point, a global leader in cyber security for over 30 years, we aim to deliver the premier SASE platform in the market,” said Amit Bareket, CEO at Perimeter 81.
“Our interconnection represents a significant step towards a comprehensive and scalable security for the modern era. We look forward to the positive impact we will jointly create.”
