Email Security Company Mimecast Acquires Cybersecurity Company Segasec

Nasdaq-listed email and data security company Mimecast Ltd. has acquired Tel Aviv-based cybersecurity company Segasec Labs Ltd., the companies announced Monday. While the companies did not disclose the financial details of the acquisition, one person familiar with the deal who spoke to Calcalist on condition of anonymity said the sum was approximately $40 million.

This is Mimecast’s second acquisition of an Israeli company. In 2018, the company acquired Tel Aviv-based cybersecurity startup Solebit LABS Ltd. in an $88 million all-cash deal.

Founded in 2017, Segasec develops a cybersecurity service that protects website operators from consumer phishing scams. The company has raised $5 million prior to its acquisition, from investors including Innogy Innovation Hub, the accelerator and venture capital arm of Berlin-listed energy company Innogy SE. Mickey Steiner is the managing director of Innogy Innovation Hub’s local outpost.

Ido Yablonka serves as Segasec's executive chairman. Yablonka was the former manager of Yahoo's Israeli operations.