Mimecast acquires Israeli cybersecurity vendor Solebit for $88m

UK data security company Mimecast Ltd. today announced that it has acquired Israeli cybersecurity company Solebit for $88 million. This will mean the Herzilya based company will now become Mimecast’s Isreal development centre.

Solebit provides a fast, accurate and computationally efficient approach for the identification and isolation of zero-day malware and unknown threats in data files as well as links to external resources. Mimecast says that the acquired cybersecurity technology will enhance its cyber resilience platform architecture and that Solebit provides powerful threat protection to help customers face today’s broad threat landscape with evasion-aware, signature-less technology.

The firm’s platform focuses mainly on preventing zero-day and unknown threats. According to research Mimecast conducted with Vanson Bourne, more than 80 percent of organizations have seen both targeted and untargeted phishing attacks increase or stay the same over the last year. Additionally, cybercriminals are constantly adapting their attack methods, looking for new ways to bypass security solutions that look for specific behaviours or signature matches.

The company was formed in 2014 by CEO Boris Vaynberg, CTO Meni Farjon, and VP product Yossi Sara, entrepreneurs with years of experience in defensive and offensive cyber-security approaches and all graduates of elite technology units in the Israel Defense Forces.

Mimecast CEO Peter Bauer said the acquisition of Solebit will offer customers a new approach that will improve their cybersecurity in an efficient manner.

“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,” said Peter Bauer, chief executive officer at Mimecast. “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.”