Mimecast Snaps Up Solebit for $88 Million

Email and data security firm Mimecast has agreed to buy threat detection company Solebit for approximately $88 million in cash, the two announced today.

Solebit, headquartered in San Francisco, was founded in 2014 by a team of cybersecurity experts who graduated from elite technology units in the Israeli Defense Force. Its focus is on helping users detect advanced threats without signatures or sandboxes, instead recognizing malicious code embedded within active content and data files.

Mimecast already uses Solebit threat detection in its Targeted Threat Protection products. It appears this is the latest in a series of acquisitions intended to protect clients against phishing: According to research from Mimecast and Vanson Bourne, more than 80% of businesses have seen the number of targeted and untargeted phishing attempts stay the same or increase over the past year. Mimecast also recently bought security awareness and training platform Ataata.

Read more details here.

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