San Carlos, Calif.-based cyber security solutions provider Check Point has signed a definitive agreement to buy Perimeter 81, a security service edge (SSE) company. The deal is valued at approximately $490 million. The acquisition is set to conclude in the third quarter of 2023, pending standard closing conditions.
Founded in 2018, Perimeter 81 has over 200 employees and caters to more than 3,000 customers worldwide. The company combines cloud-based and on-device protection. Its suite includes Zero Trust Access, and full mesh connectivity between users and applications.
Check Point plans to incorporate Perimeter 81’s features into its own Infinity architecture, aiming for a cohesive security solution across networks, cloud platforms, and remote user interfaces.
As per Gartner, the Secure Access Service Edge (SASE) market is projected to reach over $20 billion by 2026.
[Image courtesy: Perimeter 81]