Cyber security firm Check Point has announced the acquisition of network security firm Perimeter 81 for $490 million.
The acquisition comes as Check Point looks to widen its range of security service edge (SSE) and secure access service edge (SASE) offerings to serve a growing market of remote users, cloud, and data centers in need of secure access.
Check Point said it identified Perimeter 81 as a world leader in SASE solutions, with a market-leading approach to on-prem and cloud security. It aims to integrate the firm’s offerings within its wide range of products and services to offer the most secure
Perimeter 81’s approach to zero trust access and mesh connectivity was specifically noted by Check Point in its post on the acquisition, with both linked to the secure and seamless remote browsing that Check Point aims to provide for its customers.
The acquisition is expected to close in Q3 2023, subject to normal close proceedings. It will be completed in cash and debt-free.
Gartner has predicted that by 2025, 65% of enterprises will group their SASE components such as SD-WAN under dedicated SASE vendors, compared to 15% in 2021.
“With the advent of hybrid work and the rise of cloud transformation, the demand for security services that expand beyond the network perimeter is increasing,” said Gil Shwed, CEO at Check Point Software Technologies.
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"By leveraging Perimeter 81´s capabilities and integrating them into the Check Point Infinity platform we continue with our vision to deliver the best security through comprehensive, collaborative and consolidated solutions.”
Perimeter 81 currently has more than 200 employees worldwide, in comparison to Check Point’s 6,000. It is based in Tel Aviv, the site of Check Point’s international headquarters.
It currently offers a unified security stack through which it states customers can use to easily deploy and scale their secure corporate network.
“This strategic move marks an exciting period for our company, partners, and customers. By joining Check Point, a global leader in cyber security for over 30 years, we aim to deliver the premier SASE platform in the market,” said Amit Bareket, CEO at Perimeter 81.
"Our interconnection represents a significant step towards a comprehensive and scalable security for the modern era. We look forward to the positive impact we will jointly create."
