U.S. security technology company Zix Corp. has agreed to purchase peer AppRiver for $275 million in cash.
Zix said that purchase helps it to extend its customer base, improve its advanced threat protection position, and advance the company’s high-velocity go-to-market strategy through AppRiver’s channel collaborations.
Zix Corp. added that the deal further advances its offerings into the cloud at the point of initial cloud application purchase.
Following the close of the deal, Zix anticipates being able to realize about $8 million of cost savings from the merged business within the first 12 to 18 months.