Email security provider Mimecast has acquired Segasec, a cybersecurity software provider that protects against fake websites, phishing scams, credential harvesting and impersonation attempts on the Web. Financial terms of the deal were not disclosed.
This can be considered a tuck-in deal. Segasec, based in Israel, was founded in 2017 and joined Mastercard's Start Path in 2019. The six-month program provides startups with operational support, commercial engagement and the opportunity for strategic investment.
This is M&A deal Number 3 that MSSP Alert and ChannelE2E have covered in 2020. (See complete M&A deal list here.)
Mimecast Acquires Segasec: Potential MSSP Benefits
The deal enables customers, MSSPs (managed security services providers) and partners to "block any potentially malicious domains quickly," Mimecast says. Moreover, Mimecast says the deal will allow partners and customers to:
- Protect employees, customers, partners and 3rd party vendors from phishing scams attempting to trick them by abusing domains that are similar to their legitimate branding;
- identify and protect against attacks where cybercriminals have cloned a website for malicious activities against stakeholders; and
- block and take down both suspicious sites and active scams.
Mimecast's overall business focuses on cloud-based email management for Microsoft Exchange and Microsoft Office 365, including security, archiving, and continuity services to protect business mail.
Mimecast Acquires Segasec: Executive Perspectives
In a prepared statement, Mimecast CEO Peter Bauer said:
“Every brand is vulnerable to attacks that abuse and threaten the trust that employees, customers, partners and 3rd party vendors have placed in them. Segasec will allow our customers to take a proactive approach to identifying -- and even potentially preventing -- attacks that imitate their brands using domains they don’t own, while also offering the visibility required to understand how their brands are being misused for malicious intent."
Segasec CEO Elad Schulman added:
“In today’s increasingly digital economy, we rely so heavily on websites and email to interact with businesses in both our professional and personal lives. As such, brand exploitation has been on the rise, as cybercriminals co-opt the brands we depend on and violate our trust. The powerful combination of Mimecast and Segasec will help customers better protect their brands, customers and other external stakeholders, as well as their own employees.”
The deal also aligns with Mimecast's DMARC Analyzer acquisition from November 2019, Bauer added. DMARC Analyzer is SaaS-based solution provider that offers user-friendly Domain-based Message Authentication, Reporting and Conformance (DMARC) setup, management and analysis.
MSSP Partner Program Details
Mimecast has an active partner program that includes managed services providers. Segasec also has a partner program -- though the company does not specifically call out to MSPs and MSSPs in the program details.
Mimecast is is scheduled to host its second annual Cyber Resilience Summit for North American partners and customers in October 2020.
