California-based cybersecurity company Proofpoint has reached an agreement to purchase Israeli zero trust network access firm Meta Networks for $120m. The US corporation is looking to grow its cloud-based protection service with the acquisition of the smaller company's Network-as-a-Service platform, which replaces on-site cybersecurity with cloud-native, zero trust access control and internet security solutions, giving organisations strict control over access to their applications. Meta's CEO David Cohen said that his company was "excited about working with a leading global technology leader like Proofpoint".
California-based cybersecurity company Proofpoint has reached an agreement to purchase Israeli zero trust network access firm Meta Networks for $120m. The US corporation is looking to grow its cloud-based protection service with the acquisition of the smaller company's Network-as-a-Service platform, which replaces on-site cybersecurity with cloud-native, zero trust access control and internet security solutions, giving organisations strict control over access to their applications. The acquisition, which is expected to close in Q2 2019, includes $111m in cash and roughly $9m in common stocks and options; it will see Proofpoint growing its Israeli team with 20 further technical contributors.