CyberTech firm Check Point has recently entered into a definitive agreement to acquire Perimeter 81, an SSE firm.
The acquisition move is aimed at aiding organisations in hastening the adoption of secure access for various applications, ranging from remote users and sites to data centres and the internet. Through this, Check Point envisages providing the industry’s top-tier and speediest SSE solution. The agreement values Perimeter 81 at approximately $490m, which will be transacted on a cash free, debt free basis.
Launched in 2018, Perimeter 81 boasts a team of over 200 dedicated employees and caters to more than 3,000 global clients. Renowned as a front-runner in the Forrester Zero Trust Wave, the company is celebrated for its modern take on SSE, blending cloud and on-device defences. Their innovative suite includes Zero Trust Access and complete mesh connectivity, facilitating secure, rapid internet browsing for remote users. Additionally, Perimeter 81’s solutions promise swift deployment within an hour, underlining user-friendliness and efficient management.
Check Point, on the other hand, plans to capitalise on Perimeter 81’s assets by assimilating them into the Check Point Infinity architecture. This will pave the way for a holistic security solution spanning networks, clouds, and remote users, fortified with industry-leading threat mitigation.
Gartner’s projections show the Secure Access Service Edge (SASE) market touching $20bn by 2026. This underlines the pressing necessity for companies to adopt an integrated security framework, especially in the wake of digitalisation and the prevalent hybrid work model.
Perimeter 81’s unique capabilities, from addressing cloud privacy issues to ensuring secure browsing for remote users, is poised to strengthen Check Point’s objective of rolling out the swiftest and most secure SASE solution in the sector.
Check Point Software Technologies CEO Gil Shwed said, “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. 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 CEO Amit Bareket commented, “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. Our interconnection represents a significant step towards comprehensive and scalable security for the modern era. We look forward to the positive impact we will jointly create.”
The finalisation of Check Point’s purchase of Perimeter 81 hinges on standard closing conditions, with the deal expected to conclude in the third quarter of 2023.
Source: RegTech Analyst
