Proofpoint announced the acquisition of Meta Networks, hoping to strengthen its cloud security options. Meta Networks is a specialist in zero trust network access (ZTNA), writes ZDNet. The two companies reached an agreement of 111 million dollars in cash and 9 million dollars in Proofpoint shares.
Meta Networks is a company that focuses on developing ZTNA solutions, such as Network-as-a-Service (NaaS) options for enterprise customers. Solutions include software-based perimeters that can envelop accounts, apps, cloud architectures, and data centers.
The focus is to create zero trust security systems that require strict ID authentication, the concept of the least intrusive and multi-factor authentication (MFA) principles. Zero trust systems are not one-size-fits-all solutions, but a holistic approach that requires several layers of security. “Protecting people and resources beyond the traditional perimeter is potentially the most critical security requirement in the age of the cloud,” said Etay Bogner, CEO of Meta Networks.
Meta Networks was able to raise 10 million dollars in a single investment round. The investors in the Seed Round were Vertex Ventures Israel, Vertex Ventures and BRM Capital.
Proofpoint says that the acquisition should result in the strengthening of its platform. As a result, customers need to “better protect their people and the applications and data they use beyond the traditional perimeter,” says the company. In addition, the acquisition may have something to do with the headquarters of Meta Networks in Tel Aviv, Israel. Proofpoint wants to increase its presence in that country. The 20 specialists become members of the Proofpoint team in the country.
The intention is to integrate Meta Networks’ ZTNA technologies with the cloud access security broker (CASB) and web isolation solutions.
The takeover has yet to be approved by regulators. The deal is expected to be completed in the second quarter of this year. Proofpoint says that the agreement will probably have no real impact on the financial year 2019.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.