Under the terms of the agreement, Check Point is acquiring Perimeter 81 for approximately $490 million on a cash- and debt-free basis, the company reported. The transaction is expected to close in the third quarter of 2023.
This is technology M&A deal number 228 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Check Point, founded in 1993, is based in San Carlos, California. The company has 7,222 employees listed on LinkedIn. Check Point's areas of expertise include cloud security, network security and security operations.
Perimeter 81, founded in 2018, is based in New York, New York. The company has 228 employees listed on LinkedIn. Perimeter 81's areas of expertise include SASE, zero trust network access (ZTNA) and firewall-as-a-service (FWaaS).
What the Perimeter 81 Acquisition Means for Check Point
Check Point will integrate Perimeter 81's capabilities into the Check Point Infinity architecture, the company stated. In doing so, Check Point will deliver a unified security solution that protects its customers' networks, clouds and remote users.
In addition, Perimeter 81 will help Check Point customers adopt secure access across their remote users, sites, cloud, data centers and the internet, the companies said. It also supports Check Point's mission to deliver the industry's fastest, most secure SASE solution.
Check Point Remains Focused on Driving Revenue Growth
The Perimeter 81 acquisition comes after Check Point recorded $589 million in total revenues in 2Q23, up 3% year over year. Some of Check Point's achievement during the quarter included:
- Appointing former Citrix executive Sherif Seddik as its president of EMEA sales
- Incorporating vulnerability and automated patch management capabilities into its Check Point Harmony Endpoint protections solution
- Releasing its Next-Generation Cloud Firewall solution integrated with Microsoft Azure Virtual WAN
Check Point is focused on "driving revenue growth by delivering a prevention-first approach, with a focus on collaborative cyber security where multiple products work in concert to protect against the most sophisticated threats," CEO Gil Shwed said in July 2023.
The company may explore future acquisitions to further enhance its security solutions. It also continues to pursue partnership opportunities with MSSPs, MSPs and other technology providers.