Check Point Acquires Israeli "Perimeter 81" for $490 Million - The second-largest purchase

In a strategic move to bolster its cybersecurity offerings, global cybersecurity leader Check Point has announced the acquisition of Israel-based Perimeter 81 for $490 million. This acquisition marks the second-largest in Check Point's history and comes as a significant milestone for both companies.

Perimeter 81, founded in 2018 by CEO Amit Barkat and Saghi Gidli, has rapidly established itself as a pioneer in providing advanced cyber protection for remote employees. With its innovative cloud-adapted technology, the company has carved a niche in safeguarding remote connections across various devices and cloud platforms.

The deal comes at an opportune time for Check Point, as it capitalizes on a favorable market condition that has seen a decline in the valuation of technology companies. The acquisition price of $490 million is particularly noteworthy considering Perimeter 81's previous financial achievements. Just over a year ago, the company raised $100 million in a funding round that valued it at an impressive $1 billion.

Perimeter 81 has attracted attention not only for its cutting-edge technology but also for its global reach. The company boasts more than 3,000 customers worldwide and employs a workforce of 200 skilled professionals. Its technology serves as a modern iteration of traditional VPN solutions, offering enhanced security for remote connections in today's cloud-centric environment.

This acquisition also highlights Check Point's commitment to strategic expansion through acquisitions. Over the last four years, the cybersecurity giant has made several acquisitions, with a significant portion of them being Israeli firms. Perimeter 81 now joins this roster, promising to strengthen Check Point's portfolio and maintain its competitive edge in the rapidly evolving cybersecurity landscape.

The transaction is expected to close within the current quarter, subject to regulatory approvals. Notably, this acquisition represents a major success for Perimeter 81's investors. The company had raised a total of $165 million in capital, attracting investments from prominent firms such as Insight, B Capital, and Entrée Capital, among others.

As cybersecurity threats continue to evolve, this strategic move by Check Point positions the company to provide even more robust solutions to its clients. With Perimeter 81's technology integrated into its arsenal, Check Point is well-equipped to meet the growing demand for secure remote connections and cloud-based cybersecurity solutions.