California-based enterprise security company Proofpoint Inc. has agreed to buy Meta Networks Ltd., an Israeli cybersecurity startup for $120 million.
Under the transaction, Proofpoint will pay $111 million in cash and $9 million in Proofpoint stock and options to buy Meta Networks.
Proofpoint said that it will integrate the technology of Meta Network within its line of products and provide more comprehensive cloud access and security platform to the customers.
Subject to customary closing conditions, the acquisition is expected to close in the next 2 months. On completion of the deal, the employees of Mata Networks will join the Israeli team of Proofpoint.