Cybersecurity company Segasec, based in Tel Aviv, has a new owner since Wednesday. Mimecast, the company specialising in e-mail security, is taking over the Israeli operation for some forty million dollars.
With the purchase of Segasec, Mimecast adds the second Israeli cyrus security start-up to its own portfolio, after acquiring Solebit in 2018. A deal that involved some 88 million at the time.
Founded in 2003, Mimecast specialises in managing cloud-based email systems, providing additional security, archiving capabilities, and continuous file retention. With the acquisition of Segasec, an additional security measure has been added.
“With the innovative technology, Mimecast can protect users better from attacks using fake websites and domains that attempt to steal login credentials. Thanks to Segasec, AI can be used to identify potential hackers in the early stages of their attack. It can also be used to monitor, manage and block outside attempts”.
According to Minecast, the purchased technology will be used to extend the proprietary Mimecast Email Security 3.0 approach to better secure users.
Second major acquisition in two years
Halfway through 2018, Mimecast also took over a large startup from Israel, when it concerned Solebit. The company specialised in creating security measures against malware and was also very useful for Mimecast’s email security.