Mimecast announces acquisition of Solebit for £67 million

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Mimecast Limited, an email and data security company, has today announced it has acquired security software developer Solebit for approximately £67 million.

Solebit’s technology is engineered to provide a fast, accurate and computationally efficient approach for the identification and isolation of zero-day malware and unknown threats in data files as well as links to external resources.

Further enhancing Mimecast’s cyber resilience platform architecture, Solebit provides powerful threat protection to help customers face today’s broad threat landscape with evasion-aware, signature-less technology.

According to research Mimecast conducted with Vanson Bourne, more than 80% of organizations have seen both targeted and untargeted phishing attacks increase or stay the same over the last year. Additionally, cybercriminals are constantly adapting their attack methods, looking for new ways to bypass security solutions that look for specific behaviors or signature matches.

Solebit has developed a differentiated approach that is engineered to preclude the need for signatures and sandboxes. It is designed to help customers find advanced threats by recognizing when there is malicious code embedded within active content and data files. Solebit is built to scan content dynamically as it enters an organization’s systems to determine whether it is infected with malware in a transient way, avoiding the need for extra hardware and processing time typically required to isolate and detonate content presumed ‘risky.’ Solebit currently provides Mimecast and its customers insight into what was detected and why it was categorized as a threat.

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Peter Bauer, chief executive officer at Mimecast said: “Security methods like signature-based antivirus and sandbox detonation are too limited when it comes to today’s most advanced threats. It’s time for a more capable, efficient and durable approach. We’re excited to welcome Solebit into the Mimecast family, as it helps us to offer customers a new approach that fundamentally improves their cybersecurity and resilience efficacy in the most efficient way on the market.”

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