Proofpoint, an enterprise security vendor, has revealed it plans to acquire Illusive Networks, which is a startup focused on pioneering deception technology.
According to Security Week, the deception technology is being used to help detect data breaches. Financial terms of the planned acquisition were not disclosed.
Israel-based Illusive Networks has raised a total of $54m in venture capital investments since its creation in 2014. The company was among the first startups to build so-called cyber deception technologies that promised early breach detection via the use of decoy assets triggering alerts.
For Proofpoint, the Illusive Networks deal underscores the firm’s plans to become a fully-fledged enterprise security powerhouse, Security Week claims. Proofpoint is already a big player in the email security space and the addition of breach-detection tooling adds to a broadening portfolio of security products.
The company said the Illusive Network purchase adds tooling for proactive identity risk discovery and remediation as well as a strong post-breach defense capabilities.
Once the deal closes, the plan is to expand the Proofpoint product portfolio to include automatic discovery and remediation of identity vulnerabilities before attackers exploit them, and detection and response to identity threats to stop privilege escalation and lateral movement to critical assets.
Global cybersecurity SaaS platform Field Effect recently secured $34.5m in a funding round from Edison Partners and Round13 Growth Fund.
Field Effect was founded to supply SMEs with cybersecurity tools, with most existing solutions aimed at large enterprises with huge budgets and deep security expertise.
Copyright © 2022 RegTech Analyst
Copyright © 2018 RegTech Analyst
