Cybersecrity company Proofpoint has agreed to acquire US-based cloud security platform FireLayers for $55m, offering an exit to content delivery network operator Akamai Technologies.
Proofpoint will pay approximately $46m in cash for FireLayers, with the remainder provided in stock, subject to continued vesting. The transaction is expected to close by the end of 2016.
FireLayers has created a software platform that monitors usage of, and actions taken in cloud applications to assess risk and detect threats. The technology will be integrated into Proofpoint’s cybersecurity and compliance offering and made available from 2017.
Akamai took part in an October 2015 round of undisclosed size that was led by venture capital firm YL Ventures. FireLayers emerged out of stealth in early 2014 with an undisclosed amount in capital also provided by YL Ventures.
Yair Grindlinger, co-founder and CEO of FireLayers, said: “Our decision to join Proofpoint is based on its high calibre cybersecurity innovation and effectiveness at protecting customers worldwide from advanced threats.”