In a significant move reflecting the changing landscape of cybersecurity, Check Point Software Technologies Ltd. (NASDAQ: CHKP), a global cybersecurity solutions provider, has recently announced its intention to acquire Perimeter 81, a notable player in the Security Service Edge (SSE) sector. The planned acquisition, valued at around $490 million, is aimed at bolstering Check Point's ability to provide a secure and effective Secure Access Service Edge (SASE) solution.
The acquisition comes at a time when businesses across industries are navigating the intricacies of hybrid work models and the accelerating shift towards cloud-based infrastructure, and has the potential to enhance the security of remote work, streamline internet browsing, and simplify network management.
With organizations increasingly requiring secure access for their dispersed users, remote sites, cloud environments, and data centers, the acquisition signifies Check Point's strategic focus on addressing these emerging cybersecurity challenges.
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The SASE market is projected to reach over $20 billion by 2026, according to insights from Gartner. This projection underscores the growing urgency for businesses to adopt comprehensive security strategies that cater to the demands of an evolving digital landscape.
Founded in 2018, Perimeter 81 has gained recognition for its innovative approach to SSE. Boasting a team of over 200 employees, the company has developed a suite of capabilities including Zero Trust Access and full mesh connectivity. These features enable organizations to provide secure internet browsing for remote users and address concerns related to cloud privacy violations.
Notably, Perimeter 81 stands out for its emphasis on rapid deployment, offering organizations the ability to establish secure networks within a remarkably short timeframe. This user-friendly approach aligns with the company's commitment to simplifying the complexity of cybersecurity solutions.
Check Point's strategy involves integrating Perimeter 81's capabilities into its existing architecture, Check Point Infinity. This integration aims to create a unified security solution encompassing network, cloud, and remote users, strengthened by robust threat prevention mechanisms.
“With the advent of hybrid work and the rise of cloud transformation, the demand for security services that expand beyond the network perimeter is increasing,” noted Check Point CEO Gil Shwed. "By leveraging Perimeter 81’s capabilities and integrating them into the Check Point Infinity platform we continue with our vision to deliver the best security through comprehensive, collaborative and consolidated solutions.”
Amit Bareket, CEO at Perimeter 81, echoed this sentiment, highlighting the potential of the collaboration.“This strategic move marks an exciting period for our company, partners, and customers. By joining Check Point, a global leader in cybersecurity for over 30 years, we aim to deliver the premier SASE platform in the market,” he said. "Our interconnection represents a significant step towards a comprehensive and scalable security for the modern era. We look forward to the positive impact we will jointly create.”