Varonis Systems (Nasdaq: VRNS) announced the acquisition of email security provider SlashNext.
Founded in 2017 by Atif Mushtaq, one of the main architects of FireEye’s core malware sandbox technology, SlashNext leverages predictive AI models to protect users from advanced spearphishing and social engineering attacks via email and collaboration apps such as Zoom, WhatsApp, Slack, and Teams.
“The acquisition of SlashNext is a natural evolution of our platform and significantly expands our total addressable market,” said Yaki Faitelson, CEO, and Co-Founder of Varonis. “By connecting the dots between email, identity, and data we will dramatically increase the value of our MDDR service and help customers stop threats in their inbox, where many data breaches begin.”
The transaction is valued up to $150 million, including performance-based retention awards, a Varonis spokesperson told SecurityWeek.
SlashNext had raised more than $43 million in funding prior to the acquisition.
