Check Point To Buy Perimeter 81 For $490M To Create ‘Premier SASE Platform’
Here’s why Check Point Software is acquiring SASE startup Perimeter 81 for $490 million.
Perimeter 81 CEO Amit Bareket
“By joining Check Point, a global leader in cybersecurity for over 30 years, we aim to deliver the premier SASE platform in the market,” said Perimeter 81’s CEO Amit Bareket in a statement. “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.”
San Carlos, Calif.-based Check Point will integrate Perimeter 81’s capabilities into its Infinity architecture to deliver a unified security solution across the network, cloud, and remote users, powered by threat prevention technology. Perimeter 81 is ideally positioned to support Check Point’s vision of delivering the industry’s fastest, most secure SASE solution, according to CEO Gil Shwed.
“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,” said Shwed in a statement. “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.”
Who Is Perimeter 81?
Founded in 2018, Perimeter 81 has over 200 employees and is used by more than 3,000 customers on a global basis. The startup has offices in New York City, Los Angeles and in Tel Aviv, Israel.
Perimeter 81 looks to bring an innovative approach to Security Services Edge (SSE) that combines cloud and on-device protection. The startup offers a suite of capabilities, including Zero Trust Access, full mesh connectivity between users, branches and applications. This allows remote users to benefit from fast and secure internet browsing everywhere they go, while also addressing cloud privacy violations.
Check Point’s $490 million acquisition of Perimeter 81 is expected to close by the end of September.
Check Point Q2 2023 Earnings Results
Last month, Check Point unveiled the financial results of its second quarter 2023, which ended on June 30.
The company generated total revenue of $589 million, an increase of 3 percent year over ear. Check Point reported security subscription revenues of $239 million, up 14 percent year over year. The security firm generated a net income of $202 million in Q2 2023 compared to $174 million in Q2 2022.
“Our platform security strategy realized continued success, as Infinity revenues surpassed 10 percent of total revenues for the quarter,” said Shwed during the company’s Q2 2023 earnings report. “As we move forward, our priority remains driving revenue growth by delivering a prevention-first approach, with a focus on collaborative cyber security where multiple products work in concert to protect against the most sophisticated threats.”