Email Security Company Mimecast Buys Cybersecurity Company Solebit for $88 Million
The all-cash deal is Mimecast’s first acquisition of an Israeli company. Tel Aviv-based Solebit will become the company's local research and development center
Nasdaq-listed email and data security company Mimecast Ltd. is acquiring Tel Aviv-based cybersecurity startup Solebit LABS Ltd. in an $88 million all-cash deal, the companies announced Tuesday. Solebit will continue to operate from Israel as a local outpost of Mimecast.
For daily updates, subscribe to our newsletter by clicking here.London-headquartered Mimecast has over 30,000 customers and end users, including diamond mining and trading company De Beers Group and railway operator Eurostar. For the fiscal year 2018 ended March 31, 2018, Mimecast reported GAAP revenues of $261.9 million, up 40% year-over-year, and a GAAP net loss of $14.1 million.