Leading British email and data security company Mimecast announced Tuesday that it has acquired Israeli security software developer Solebit for some $88 million in cash and $10 million in noncash assets.
This is Mimecast's first investment in Israel.
Founded in 2014 by cybersecurity experts Boris Vaynberg and Meni Farjon, Solebit provides "a fast, accurate and computationally efficient approach for the identification and isolation of zero-day malware and unknown threats in data files as well as links to external resources," according to its website.
It provides cybersecurity services for global financial organizations, the high tech sector, security vendors, cloud and telecom service providers as active customers.
The London-based Mimecast, founded in 2003, specializing in cloud-based email management for Microsoft Exchange and Microsoft Office 365.
Solebit, which is headquartered in Herzliya, employees 35. The company will become Mimecast's local research and development center in Israel.
"Security methods like signature-based antivirus and sandbox detonation are too limited when it comes to today's most advanced threats. It's time for a more capable, efficient and durable approach," Mimecast CEO Peter Bauer said in a statement.
"We're excited to welcome Solebit into the Mimecast family, as it helps us to offer customers a new approach that fundamentally improves their cybersecurity and resilience efficacy in the most efficient way on the market," he said.
