Insight Bite: Symantec Boost Cloud Defence Systems with Luminate Acquisition

As enterprise software moves into the cloud, it faces a fresh set of cyber security challenges. This has created demand for cloud security companies like Israel’s Luminate – which has been acquired by American cyber security software giant Symantec.

The deal, which is thought to be worth around 200 million, will see Luminate’s proprietary cloud defence technology absorbed into Symantec’s cyber defence platform. This includes a protocol pioneered by Luminate that is known as “zero trust access” – a model of remote access that relies on software-defined perimeters rather than a VPN connection to authenticate remote users on a network.

As cloud security becomes more of an issue, enterprises are increasingly adopting software-defined perimeters systems in place of VPNs, and research firm Gartner estimates that

60 percent of enterprises will have switched over to this more secure system of access by 2021.

“As corporate applications continue to move to the cloud, IT organizations need innovative approaches to address the complexity and security challenges of providing users anywhere, anytime access,” said Art Gilliland, General Manager of Enterprise Products at Symantec. “Luminate Security’s agentless, cloud-delivered service solves these problems and adds a powerful Software Defined Perimeter capability to our Integrated Cyber Defense Platform.”

With a total of 72 acquisitions made over its 37 year lifespan, Symantec is one of the most prolific acquirers in the cyber security space, and has made a habit of buying innovative companies to gain a first mover advantage in emerging technologies.

Over the last eighteen months, the company has acquired several Israeli firms, including Skycure, which focuses on protecting mobile devices against threats; corporate security specialists Fireglass; and Javelin, which provides software to defend enterprises against Active Directory-based attacks.

As the threats continue to develop, so do the technologies that aim to thwart them, creating a constant game of cat and mouse and a very bullish mergers and acquisitions market.

About Acuity Advisors LLP

We know technology – that’s why we’re the industry’s trusted M&A advisor. Our partners are senior players in tech and M&A: skilled at getting to the heart of a technology business, understanding what will attract buyers, and building long-lasting relationships. We have an unrivalled understanding of the industry’s complexities and personalities – our track record and client feedback are compelling evidence of that. We’re an international firm – most of our deals are cross-border, from offices in London, Munich, Shanghai and Silicon Valley – but we’re grounded in our approach. We move quickly when it’s needed, and we’re around for the long haul when patience is a virtue. We’ve maintained a very high success rate across hundreds of deals while keeping our focus on doing what’s right for our clients. From first meeting to successful exit, we earn the trust that clients and investors put in us. Read more…

© 2019 Acuity Advisors LLP

A conversation is never wasted. We’re confident that we can give you all the help you need, but we’ll tell you if we think there’s a better option for you.

Get in Touch Get in touch now