Proofpoint, a cybersecurity company based in California, has entered into a definitive agreement to acquire FireLayers, an Israeli innovator in cloud security. The acquisition deal is said to be worth $55 million — approximately $46 million in cash and some $9 million in Proofpoint stock.
FireLayers is a three-year-old startup based in Herzliya. It was founded by Yair Grindlinger, CEO, and president Doron Elgressy.
The Israeli office will now become the US cyber security company’s local development center.
FireLayers specializes in helping enterprises secure their cloud applications.
“We built FireLayers with one goal: to help enterprises secure their cloud applications—and we are thrilled to accelerate our mission and bring Proofpoint’s exceptional capabilities to SaaS applications,” said Yair Grindlinger, CEO and co-founder of FireLayers. “Our decision to join Proofpoint is based on its high caliber cybersecurity innovation and effectiveness at protecting customers worldwide from advanced threats. And the new Proofpoint Israel office extends that exceptional leadership presence into Israel for long-term success.”
Israel is known for its innovative cybersecurity technologies and startups.
“FireLayers gives us a platform to scale and protect the thousands of SaaS applications that enterprises use, as well as a seasoned product and engineering team to execute,” said Gary Steele, Proofpoint CEO. “Also, as part of today’s news, we are pleased to expand our global cybersecurity presence in EMEA with a new office location in Israel.”