Security, performance, and reliability company, Cloudflare announced the acquisition of Area 1 Security, creator of a cloud-native platform working seamlessly with email offerings to stop phishing attacks by preemptively discovering and eliminating them before they can cause any damage. The company stated that companies blocked over 40 million phishing campaigns that target business email compromise, malware, ransomware, and other advanced threats in 2021 alone.
Secure and fast email security
Cloudflare launched its Advanced Email Security Suite in 2021 along with additional tools allowing users to create custom email addresses, manage incoming email routing, and prevent email spoofing and phishing on outgoing emails. The company’s network blocks an average of 86 billion cyber threats each day and effectively filters out targeted phishing attacks and other security threats.
Area 1 Security is known for its preemptive approach to email security to prevent phishing campaigns in the earliest stages of the attack cycle. The combination of Area 1 Security’s technology and Cloudflare’s experience will provide a holistic Zero Trust solution that can be enabled through Cloudflare’s global edge.
With the agreement, Cloudflare is acquiring Area 1 Security for approximately $162 million, subject to customary adjustments, with 40-50% of the price payable in shares of Cloudflare’s Class A common stock and the remainder payable in cash. The acquisition is expected to close early in the second quarter of 2022. Matthew Prince, co-founder and CEO of Cloudflare said,
« Email is the largest cyber attack vector on the Internet, which makes integrated email security critical to any true Zero Trust network. That’s why today we’re welcoming Area 1 Security to help make Cloudflare’s platform the clear leader in Zero Trust. To us, the future of Zero Trust includes an integrated, one-click approach to securing all of an organization’s applications, including its most ubiquitous cloud application, email. Together, we expect we’ll be delivering the fastest, most effective, and most reliable email security on the market. »