Fireglass specializes in the domain of browser isolation technology.
On Thursday Symantec Corp disclosed it is acquiring Israeli cyber security startup Fireglass in a deal designed to boost its cyber security defenses for its products.
Symantec has yet to disclose the terms of the deal as well as the price for the acquisition of the 40 employee based Tel Aviv company.
Fireglass’ specialty lies in the area of “browser isolation,” a technology that allows users to browse any content through virtual websites such that even infected sites don’t effect the network.
“Browser isolation” is an area that Symantec had been looking to enter for some time, said Greg Brown, Symantec’s Chief Executive while citing a Gartner report of a 50% hike in the adoption of browser isolation by companies by 2021.
He went on to add, financial institutions, healthcare companies, governments, and telecommunications companies have been the early adopters of the technology.
“While it’s what I would call a ‘tuck-in’ acquisition, it will be very valuable to us as we bring it to our customers,” said Brown.
In recent years, Symantec has been a serial acquirer of security companies: its recent acquisitions include Lifelock Inc for $2.3 billion and Blue Coat Inc for $4.65 billion.
The deal will increase the company’s footprint in Israel, which incidentally is a hotbed for cybersecurity.
The deal is expected to close in the third quarter of this year.
Founded in 2014 by a former employee of Check Point Software Technologies, Fireglass had the backing of investors, including Norwest Venture Partners and Lightspeed Venture Partners.