By Meir Orbach, Calcalist
Nasdaq-listed cybersecurity company Proofpoint Inc. has announced on Monday an agreement to acquire cybersecurity startup Meta Networks Ltd. for $111 million in cash and $9 million in Proofpoint stock and options. The transaction is expected to close in the next two months, subject to customary closing conditions.
Founded in 2016 and headquartered in Tel Aviv, Meta Networks develops cloud-native security tools for enterprise wide area networks (WAN). Meta Networks’ system isolates each user’s private data from the internet and from the organizational network in order to reduce the chances of unauthorized access, a cyber attack, or a leak. The company raised $10 million to date from Vertex Ventures Israel and BRM Group.