Sunnyvale, Calif.-based cybersecurity company Proofpoint Inc. (NASDAQ: PFPT) said it agreed to acquire FireLayers, an innovator in cloud security, for $55 million, consisting of $46 million in cash and $9 million in Proofpoint stock subject to continued vesting.
The closing is subject to customary closing conditions and is expected to occur this quarter.
With this acquisition, Proofpoint will extend Targeted Attack Protection (TAP) to SaaS applications, enabling customers to protect their employees using SaaS applications from advanced malware.
“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 cybersecurity presence in EMEA with a new office location in Israel.”
“We built FireLayers with one goal: to help enterprises secure their cloud applications—and 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.
FireLayers was founded in 2014 and raised venture funding from YL Ventures and Akamai.
The combination of Proofpoint TAP and FireLayers will enable enterprises to detect and block both malicious files and links shared via SaaS applications.
Photo: Yair Grindlinger, CEO and Co-Founder of FireLayers.