The acquisition price of the cyber company specialized in email protection is estimated at approximately $200 million.
US internet company Fortinet (Nasdaq: FTNT) has made another acquisition in Israel. The company in question this time is Point of perceptionSpecialized in email security. The acquisition price appears to be around $200 million.
Perception Point, which employs more than 100 people in Israel, is estimated to have annual recurring revenue of $15 million, meaning the deal, which is all cash, represents a revenue multiple of between 10 and 15. The company has raised $50 million from Pitango, State of Mind Ventures, and Red Dot Capital Partners.
Perception Point became one of the fastest growing Internet companies in the email category, but struggled to match the rapid growth of larger Internet platforms like Palo Alto Networks, Check Point, or even Wiz. So it searched for a buyer in the past few months, and Fortinet, its second acquisition in Israel after the enSilo acquisition, saw the opportunity. Internet industry sources pointed to Check Point’s successful acquisition of Avanan for just $275 million. Avanan now generates annual revenue for Check Point of more than $100 million.
Perception Point was founded in 2015 by Shlomi Levin and Michael Aminoff, who are part of its management. The company’s CEO is Yoram Salinger.
Published by Globes, Israel Business News – en.globes.co.il – on December 12, 2024.
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