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August 2, 2018 9:36 am

UK’s Mimecast Purchases Israeli Cybersecurity Firm Solebit for $98 Million

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A Hewlett-Packard tablet computer. As American and Israeli schools shift from textbooks to tablets, entrepreneurs from the “startup nation” are hoping they can bank on the trend. Photo: Janto Dreijer via Wikimedia Commons. – Leading British email and data-security company ‎Mimecast announced on Tuesday that it has acquired ‎Israeli security software developer Solebit for some ‎‎$88 million in cash and $10 million in non-cash ‎assets. ‎

This is Mimecast’s first investment in Israel.

Founded in 2014 by cybersecurity ‎experts Boris ‎Vaynberg and Meni Farjon, Solebit provides “a fast, accurate ‎and computationally efficient ‎approach for the ‎identification and isolation of ‎zero-day malware and ‎unknown threats in data files, ‎as well as links to ‎external resources,” according to its website.‎

It provides cybersecurity services for global ‎‎financial organizations, ‎the high-tech sector, ‎security vendors, ‎cloud and telecom service ‎‎providers as active ‎customers.‎

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The London-based Mimecast, founded in 2003, ‎specializing in ‎cloud-based email management for ‎Microsoft Exchange ‎and Microsoft Office 365.‎

Solebit, which is headquartered in Herzliya, ‎employees 35. The company will become ‎Mimecast’s local research and development center in ‎Israel. ‎

“Security methods like signature-based antivirus and ‎sandbox detonation are too limited when it comes to ‎today’s most advanced threats. It’s time for a more ‎capable, efficient and durable approach,” Mimecast ‎CEO Peter Bauer said in a statement‏.‏

‏“We’re excited to welcome Solebit into the Mimecast ‎family, as it helps us to offer customers a new ‎approach that fundamentally improves their ‎cybersecurity and resilience efficacy in the most ‎efficient way on the market,” he said.‎

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