Cybersecurity company Symantec has agreed to acquire Israel-based cybersecurity technology producer Fireglass, providing an exit to Singtel Innov8, the corporate venturing arm of telecommunications firm Singapore Telecommunications.
Financial terms of the acquisition, which is expected to close in the third quarter of 2017, have not been disclosed.
Founded in 2014, Fireglass has developed software that aims to eliminate ransomware, malware and phishing threats in real time by preventing harmful content from ever making it onto a user’s device or onto a corporate network.
The company’s technology will be made available to Symantec’s customers once the acquisition has been closed. Symantec hopes the startup’s product will strengthen its cloud and on-premise security offering.
Singtel Innov8 participated in a $20m series A round for Fireglass in January 2016, alongside VC firms Norwest Venture Partners and Lightspeed Venture Partners as well as angel investors Mickey Boodaei and Rakesh Loonkar.
Guy Guzner, founder and chief executive of Fireglass, said: “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 are excited to bring this groundbreaking technology into the hands of more customers.”