Israeli company Solebit sold for nearly $100 million dollars

Mimecast will now use use Solebit's Herzilya-based location as its new development center.

By JERUSALEM POST STAFF

JULY 31, 2018 18:08

Updated: JULY 31, 2018 18:34

A man holds a laptop computer as cyber code is projected on him (photo credit: KACPER PEMPEL/REUTERS) — A man holds a laptop computer as cyber code is projected on him

(photo credit: KACPER PEMPEL/REUTERS)

Mimecast announced Tuesday that they have acquired the Israeli cyber security company Solebit for $88 million.

Solebit specializes in providing approaches to malware and other unknown online threats.

The company was founded in 2014 by cybersecurity experts and provide their services for global financial organizations, hi-tech, security vendors, cloud and telecom service providers as active customers.

Mimecast is a UK based company specializing in cloud-based email management for Microsoft Exchange and Microsoft Office 365.

Mimecast will now use use Solebit's Herzilya-based location as its new development center.

“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, according to Globes. "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.”