Cloud Security Startup Bitglass was acquired by Forcepoint early this month and the deal is said to get completed by this year’s end. Forcepoint has kept the financial details of the deal under wraps and has made it official that it is planning to use the newly acquired technology from the California based company to secure information on hybrid cloud environments.
Austin based company has proudly announced that the Cloud Native Security Service Edge Platform of Bitglass will be integrated with Secure Access Service Edge Platform as soon as the deal closes in February 2022.
Readers of Cybersecurity Insiders should notify a point over here that Forcepoint is in an acquisition spree this year as it acquired Deep Secure in July this year and bagged Cyberinc in May 2021. All this encouragement was gathered by the firm as soon as its former parent company Raytheon sold the security firm for $1.1 billion to a private company named Rivelo after a huge financial backing from Francisco Partners.
Note- Trade analysts from Financial data firm Refinitiv predict that most of the tech company acquisitions will be concluded with stock consideration, as the payment depends more on the relative valuation of two companies, rather than the absolute value of the company that is going to be purchased.