Israeli company Solebit sold for nearly $100 million dollars | Innovation
A man holds a laptop computer as cyber code is projected on him.
(photo credit: KACPER PEMPEL/REUTERS)
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Mimecast announced Tuesday that they have acquired the Israeli cyber security company Solebit for $88 million.
Solebit specializes in providing approaches to malware and other unknown online threats.
The company was founded in 2014 by cybersecurity experts and provide their services for global financial organizations, hi-tech, security vendors, cloud and telecom service providers as active customers.
Mimecast is a UK based company specializing in cloud-based email management for Microsoft Exchange and Microsoft Office 365.
Mimecast will now use use Solebit's Herzilya-based location as its new development center.
“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, according to Globes. “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.”
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