KUALA LUMPUR, Feb 24 (Bernama) -- Cloudflare Inc, the security, performance, and reliability company helping to build a better Internet, announced it has agreed to acquire Area 1 Security.
Area 1 Security’s cloud-native platform, which works seamlessly with any email offering, stops phishing attacks by preemptively discovering and eliminating them before they can inflict damage in a corporate environment.
According to a statement, in 2021 alone, the company blocked more than 40 million malicious phishing campaigns spanning business email compromise, malware, ransomware, and other advanced threats.
“Email is the largest cyber attack vector on the Internet, which makes integrated email security critical to any true Zero Trust network. That’s why today we’re welcoming Area 1 Security to help make Cloudflare’s platform the clear leader in Zero Trust,” said co-founder and chief executive officer (CEO) of Cloudflare, Matthew Prince.
Meanwhile, CEO and President of Area 1 Security, Patrick Sweeney said: “By combining our leading phishing protection and threat intelligence capabilities with Cloudflare’s global network, data capabilities, and Zero Trust platform, we truly believe that together we can help companies of any size better secure their entire network infrastructure and better protect against the most destructive cyber risks.”
Under the terms of the agreement, Cloudflare will acquire Area 1 Security for approximately US$162 million, subject to customary adjustments, with 40-50 per cent of the price payable in shares of Cloudflare’s Class A common stock and the remainder payable in cash. (US$1 = RM4.188)
The acquisition is expected to close early in the second quarter of 2022 and is subject to customary closing conditions.
Cloudflare entered the email security market in 2021 with the launch of its Advanced Email Security Suite and additional tools to create custom email addresses, manage incoming email routing, and prevent email spoofing and phishing on outgoing emails.
By combining Area 1 Security’s highly scalable technology and years of experience in email protection with Cloudflare’s global network, the two companies will provide a holistic Zero Trust solution that customers can enable through Cloudflare’s global edge.
More details at www.cloudflare.com.
-- BERNAMA
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