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Tuesday 12 October 2021

Forcepoint bags Bitglass for CASB

Forcepoint bags Bitglass for CASBThe proposed acquisition of Bitglass will add a range of additional secure access service edge (SASE) tools to Forcepoint’s cyber security portfolio, helping the company protect enterprise employees and devices logging into cloud-hosted data and applications from distributed locations in new hybrid working arrangements.

Terms of the deal were not disclosed but Bitglass was founded in 2013 and has a London sales office. It received US$70m of Series D funding from investors including Quadrille Capital, Future Fund, New Enterprise Associates (NEA), Norwest and Singtel Innov8 in April 2019.Forcepoint bags Bitglass for CASB

The acquisition is expected to complete later this year. At that point the two companies aim to consolidate data security, network, web, and cloud security, threat protection, advanced monitoring, and zero trust control into an integrated security platform which is easier to use and manage than separate tools used for the same purpose.

Bitglass is best known for its cloud access security broker (CASB – see our report Cloud Access Security Brokers: Benefits and Opportunities here), but also provides secure web gateway, zero trust network access, data loss prevention and cloud security posture management products.

The deal is Forcepoint’s third of the year having purchased cloud hosted threat removal specialist - and former TechMarketView Little British Battler - Deep Secure last June and remote browser isolation firm Cyberinc in May. Texas-headquartered Forcepoint itself was acquired from Raytheon by private equity firm Francisco Partners only last January. Its new owners have clearly embarked on an acquisition spree that stands to make Forcepoint a much larger cyber security supplier this time next year as more organisations pivot to hybrid working arrangements.

Posted by: Martin Courtney at 09:10

Tags: acquisition   CASB   cybersecurity   SASE  

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