MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Symantec (NASDAQ:SYMC), the world’s leading cyber security company, today announced that it has entered into an agreement to acquire Israel-based Fireglass, the leading agentless isolation solution that eliminates ransomware, malware and phishing threats in real-time by preventing potentially harmful content from ever reaching user endpoints or the corporate network. With this acquisition, Symantec further strengthens its Integrated Cyber Defense Platform and dramatically extends the Company’s leadership in Secure Web Gateway and Email protection delivered both on premises and in the cloud.
Fireglass’ innovative approach to browser isolation substantially reduces the attack surface, strengthening an enterprise’s security posture and as a result, significantly reduces the burden on the company’s security operation center (SOC) and IT help desk. Users are protected regardless of the links they click or the uncategorized websites they visit, as all potentially harmful website and email content and attachments are executed within a fully protected and separate environment, eliminating the most common infiltration points for ransomware, exploits and malware. Delivered as a cloud service, on premises, or in a hybrid model, Fireglass provides a transparent and worry-free end user experience, with customers reporting a dramatic reduction in problem tickets and the resulting workload of the security team.
Greg Clark, Symantec CEO said, “Integrating Fireglass’ isolation technology with Symantec’s existing endpoint, email and secure web gateway solutions could reduce security events by as much as 70 percent, while virtually eliminating advanced threats spread by web browsing or email content. Isolation will become a core component in the design of cyber defense architectures for the cloud generation who face the reality of an encrypted Internet and the crisis inherent in email and web-delivered attacks. The ability for the security team to take an aggressive stance on unknown websites and questionable attachments without causing chaos for a company’s users and IT help desk is now a reality. Isolation is a key element of securing the cloud generation and is even a productivity gain for both the end user and security operations center.”
“The pairing of browser isolation with Symantec’s proxy and endpoint capabilities forms a generational change in approach. Our tests show promise for meaningful reductions in attack surface and time-consuming security events,” said Ramin Safai, CISO of Jefferies Group LLC. “I applaud Symantec for focusing on tangible security outcomes – it’s precisely what the industry needs.”
Guy Guzner, Founder and CEO of Fireglass, said, “We’ve long admired Symantec for their leadership in protecting customers’ critical information. Fireglass’ industry-leading isolation technology helps customers battle zero-day attacks and other serious vulnerabilities, making it an essential element for protecting email, messaging and web browsing. It easily integrates with existing security solutions and across all forms of the endpoint including Windows, Mac, Android, iOS and all others including browser-enabled IoT devices. With Symantec’s global scale, we’re excited to bring this groundbreaking technology into the hands of more customers.”
The transaction is subject to customary closing conditions, and is expected to close in the third calendar quarter of 2017. Symantec expects Fireglass’ technology to be available to its customers and partners soon after the transaction closes. Financial terms of the transaction were not disclosed.
Fireglass allows users to click with confidence from any device by eliminating malware and phishing from web and email with no endpoint agent. Organizations protected by Fireglass maximize user productivity while solving the operational overhead and complexity of web gateways through True Isolation™, where all web traffic is executed remotely and does not reach endpoints. Deployed at Fortune 500 companies, Fireglass was founded by network security leaders and military intelligence veterans and is backed by world-class investors including Lightspeed Venture Partners and Norwest Venture Partners.
Symantec Corporation (NASDAQ:SYMC), the world’s leading cyber security company, helps organizations, governments and people secure their most important data wherever it lives. Organizations across the world look to Symantec for strategic, integrated solutions to defend against sophisticated attacks across endpoints, cloud and infrastructure. Likewise, a global community of more than 50 million people and families rely on Symantec’s Norton and LifeLock product suites to protect their digital lives at home and across their devices. Symantec operates one of the world’s largest civilian cyber intelligence networks, allowing it to see and protect against the most advanced threats. For additional information, please visit www.symantec.com or connect with us on Facebook, Twitter, and LinkedIn.
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This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including expectations regarding the acquisition of Fireglass and the timeframe in which this will occur and the expected benefits to Symantec, Fireglass, and their respective customers from completing the acquisition, including the combination of Fireglass’ isolation technology with Symantec’s existing endpoint, email and secure web gateway solutions. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievement to differ materially from those expressed or implied in this press release. Such risk factors include, among others, satisfaction of closing conditions to the transaction, the ability of Symantec to successfully integrate the merged business and achieve the expected benefits, and customer demand for the integrated product offerings. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors section of Symantec's Form 10-K for the year ended March 31, 2017. Symantec assumes no obligation, and does not intend, to update any forward-looking statement contained in this press release. In addition, any forward-looking indication of plans for products is preliminary and all future release dates are tentative and are subject to change. Any future release of the product or planned modifications to product capability, functionality, or feature are subject to ongoing evaluation by Symantec, and may or may not be implemented. As such, statements about such plans should not be considered firm commitments by Symantec and should not be relied upon in making purchasing or investment decisions.