In the ever-evolving landscape of cybersecurity, Check Point has made a significant move by acquiring Perimeter 81. This acquisition aims to bolster security tools for the growing number of remote and hybrid workers in the modern work environment.
The Acquisition Details
Check Point, a renowned enterprise cybersecurity company, has acquired Perimeter 81 for a substantial $490 million. This move comes at a time when Perimeter 81’s valuation stands at a significant discount from its previous $1 billion valuation in June 2022.
Why Perimeter 81?
Perimeter 81, an Israeli startup, offers tools that secure identity access across various platforms, making it a valuable asset for Check Point. The acquisition will not only eliminate a direct competitor but also enhance Check Point’s offerings and customer base.
The Rise of Remote Work and Its Challenges
The COVID-19 pandemic has reshaped the work environment, with many companies adopting remote and hybrid work models. While some companies are gradually returning to office-based work, a significant percentage of the workforce continues to operate remotely. This shift has brought forth various security challenges, emphasizing the need for robust cybersecurity solutions tailored for remote work.
The Bigger Picture in Cybersecurity
The acquisition of Perimeter 81 by Check Point is a testament to the ongoing consolidation trend in the cybersecurity industry. Large enterprise platforms are increasingly integrating point-solution functionalities to offer comprehensive, all-in-one solutions to their clients. Such integrations not only enhance revenue opportunities for companies like Check Point but also simplify IT contracts for customers.
A Joint Vision for the Future
Both Check Point and Perimeter 81 share a vision of providing top-tier security solutions for the modern era. Gil Shwed, CEO at Check Point Software Technologies, emphasized the increasing demand for security services beyond the traditional network perimeter. On the other hand, Amit Bareket, CEO at Perimeter 81, expressed enthusiasm about the joint venture, highlighting the potential for a comprehensive and scalable security platform.
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