California based cybersecurity solutions provider Proofpoint Inc has made it official that it is going to acquire Meta Networks for an undisclosed amount to strengthen its cloud-based security architecture.
“As enterprises are becoming soft targets to cyber attacks and as more and more organizations are showing inclination in moving towards the cloud, a compromise of a single user will lead to a full enterprise breach”, said Gary Steele, CEO, Proofpoint.
As Meta Networks offers Zero Trust Network Access (ZTNA), its acquisition will make it easier for Proofpoint to offer precise control to its enterprise customers over its employees and contractors who interact will apps which are on-premises and cloud.
Moreover, the news is out that the ZTNA technology of Meta Networks will be integrated into the products related to Proofpoint’s Cloud access security broker (CASB) and Web Isolation in order to offer comprehensive cloud access and security platform.
“We will help Proofpoint to realize its security vision of protecting assets on the cloud from all kinds of cyber threats,” said Etay Bogner, CEO, and Founder, Meta Networks.
A source from the Sunnyvale based company said that the transaction worth $111 million could take place in cash and the rest i.e. $9 million could be done in stocks or other options.
Note- Proofpoint claims that its solutions are capable of detecting and stopping over 99% of attachment based attacks of phishing genre and every day over 600 million emails and more than 7 million apps and thousands of social media accounts are being protected from various threats lurking in the current cybersecurity landscape. The company claims that it has more than half of the fortune 100 companies as customers which include 5 International banks, and 7 global renowned retailers along with 5 pharma companies and 8 research universities.