Security News
10 Things To Know About The $5.8B Permira-Mimecast Deal
Michael Novinson
Here’s a look at how Mimecast can leverage Permira’s deep pockets to its advantage, the possibility of another buyer coming in with a superior bid, and why email security vendors have made such appealing acquisition targets.
10. Mimecast Is World’s 13th-Largest Cybersecurity Vendor
Mimecast is one of the just 13 publicly traded cybersecurity companies to have revenues of more than $490 million last year, with sales surging by 15 percent in 2020 to $492 million. That makes Mimecast smaller than cybersecurity vendors like Palo Alto Networks, Fortinet, Check Point, Trend Micro, and Proofpoint, but larger than industry peers like CyberArk, Tenable, Rapid7, Qualys, and Zix.
This year is shaping up to be even bigger for Mimecast, with the company projecting a sales bump of roughly 15 percent in the fiscal year ending March 31, 2022, to between $589.9 million and $593.6 million. Mimecast’s revenue in the quarter ended Sept. 30 increased 16 percent to $147.2 million, beating analyst projections of $142.8 million, according to Seeking Alpha.
Mimecast is also profitable, with the company recording net income of $29.7 million in the fiscal year ended March 31, 2021, as well as net income of $27.7 million in the six months ended Sept. 30, 2021. The company’s net income for the quarter ended Sept. 30 skyrocketed by 75 percent to $17.6 million, or $0.26 per diluted share. That crushed analyst expectations of $0.16 per share, Seeking Alpha said.
