Mimecast Acquires Solebit For $88 Million

Mimecast Limited, an email and data security company, has acquired Solebit, a developer of security software, for approximately $88 million.

The purchase follows Mimecast’s acquisition of Ataata, a cybersecurity training platform, earlier this month.

Solebit helps firms identify and isolate malware and unknown threats in data files and links to external sources, Mimecast says, and scans content as it enters a company’s systems to identify malicious code embedded within active content and data files, it adds.

Mimecast had already integrated Solebit’s threat detection capabilities into its Targeted Threat Protection products, the company adds.

“Security methods like signature-based antivirus and sandbox detonation are too limited when it comes to today’s most advanced threats,” states Peter Bauer, chief executive officer at Mimecast.

According to a recent study conducted by Mimecast and Vanson Bourne, 92% of companies have seenransomware delivered via email attachments in the past year. It also found that over 80% say targeted and untargeted phishing attacks have increased or stayed the same in the same period.

Solebit has 35 employees/contractors. The executive team is staying in place and will be part of Mimecast's R&D organization. 

 
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