Symantec buys Fireglass to offer ransomware security to all its users

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Security software provider Symantec has made it official that it is acquiring Israel-based firm Fireglass for $250 million. Industry analysts say that the idea behind the Symantec’s purchase is to incorporate Fireglass’s agentless solution that eliminates ransomware, malware and phishing threats in real time.

The year 2017 witnessed two very notable malware attacks- The first one happens to be Wanna cry which took place in May and hit more than 250,000 computers across 150 countries. And the second one happens to be Not Petya ransomware which targeted more than 12,500 machines in Europe- especially in Ukraine.

Apparently, both these malware attacks were launched on machines which were running older Windows Platforms and this includes industry giants like Merck, AP Moller-Maersk, FedEx, Rosneft, Mondelez International and such.

To counter such attacks Fireglass technically offers an innovative browser solution that substantially reduces the attack surface, strengthens the enterprise security posture and eventually reduces the burden on the company’s Security Operation Center (SOC) and IT help desk.

It offers a solution called ‘Web Isolation’ which is a proxy-based method that process a web session remotely rather than on the endpoint or in a sandbox. The technology also provides a remote rendering of files, and email attachments to avoid malicious downloads onto an endpoint device.

In 2017, Fireglass Browser Isolation solution was announced as one of the top technologies for information security by Gartner.

So, Symantec’s idea behind the purchase is to offer its software users a remedy to ransomware attacks which are growing at an alarming rate on a global note. Thus, with the Fireglass’s Browser Isolation solution, Symantec wants to help public and private sector companies in thwarting ransomware related attacks.

Note- As per the sources reporting to our Cybersecurity Insiders, the transaction will be complete by 3Q of 2017.

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Naveen Goud is a writer at Cyber Security Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security