Virtualisation software provider VMware has agreed to acquire US-based malware protection technology developer Lastline for an undisclosed amount, allowing corporates Barracuda Networks, Dell, Sumitomo, WatchGuard Technologies and NTT Finance to exit.
Lastline has developed a software platform that uses artificial intelligence to protect network, email, cloud and web infrastructure from sophisticated malware attacks. It was co-founded in 2011 by faculty from Northeastern University and University of California, Santa Barbara.
The companies expect their combined offering will provide a comprehensive security suite to customers, with VMware already supplying cloud, data centre, end user and workload protection technologies.
About 40% of LastLine’s workforce, consisting of approximately 50 employees, will be made redundant, according to TechCrunch. It had received almost $50m in equity financing ahead of the acquisition.
The company last raised funding through a $28.5m series C round 2017 featuring cybersecurity software providers Barracuda and WatchGuard, and NTT Finance, telecommunications firm NTT’s financial services subsidiary.
Venture capital fund Thomvest Partners led the series C round, which included Osage University Partners, Redpoint Ventures and undisclosed existing backers.
The series C came after a $10m series B round featuring Dell Ventures, the subsidiary of computer maker Dell since superseded by Dell Technologies Capital, as well as Presidio Ventures, a corporate venturing vehicle of conglomerate Sumitomo, and existing backers Redpoint and E.ventures.
