Israeli startup Meta Networks was acquired by cyber company ProfPoint for $ 120 million

Meta Networks was acquired by the American cyber company ProfPoint for $ 120 million. Of which 111 million in cash and the rest in shares. The company was founded two and a half years ago and has raised $ 10 million to date. The deal is expected to be signed in the second quarter of 2019. The purchaser is an American cyber company traded at a value of $ 7 billion on the US stock exchange. The value of the holdings of the two Vortex and BRM funds will bring them to an exit of $ 35 million on an investment of only $ 5 million.
The Israeli company was founded by Itay Bogner, a serial entrepreneur who founded SupHeavor and NewClus in the past. The first was acquired by Check Point after a series of struggles and the second by Intel. The employees of the Israeli company will join the development center of the company being acquired in Israel.
"Since cyber attacks are primarily aimed at people, and organizations continue to migrate their infrastructure to the cloud, then hacking into a single user's computer may,
Too, lead to a systemic break-in of an entire organization. Restricting access by employees and subcontractors to authorized resources only, not to the entire corporate network, is a critical control of a people-focused security model, "said Prof Gary Steele, CEO of ProfPaint." By combining MetaTnetwork's innovative Zero Trust Network Access (ZTNA) technology, With our people-centric security platform, ProfPoint will enable organizations to control a much simpler and more accurate approach to employees and subcontractors for cloud and workplace applications. We are pleased to bring the employees of Meta Networks to the team of ProfPoint. "
ProfPoint intends to integrate Meta Networks' ZTNA technology with its Cloud Access Security Broker (CASB) and Web Isolation products to offer customers a comprehensive cloud security solution and secure access to the corporate network. The acquisition of Meta Networks will add approximately 20 development personnel to the growing presence of ProfPoint in Israel.
ProofPoint is a public company traded on Wall Street at a company value of $ 7 billion. She made a statement about the deal, in which she also mentioned the amount of the deal. Most of the deal is in cash ($ 111 million) and an additional $ 9 million will be provided in shares of the Acquiring Company. ProofPoint already has a development center in Israel, which it founded based on the acquisition of FireLayers at the end of 2016, for $ 55 million.
Meta Networks has developed a private cloud service, that is, a cloud platform that communicates with the organization and the employees, and connects to it all the enterprise applications. "The traditional approach in the world of security claims that a wall must be built around the organizational network, and anyone connected to it is perceived as 'credible.'