Check Point Software Technologies Ltd. is paying $490 million to buy Perimeter 81 Ltd., a startup that helps workers securely log into their companies’ internal applications.

The acquisition was announced this morning. It’s a so-called cash free, debt free deal, which means Check Point Software isn’t assuming any of the cash or debt on Perimeter 81’s balance sheet. The cybersecurity giant expects to complete the deal by Sept. 30. 

Perimeter 81 sells a so-called SASE, or secure access service edge, platform. SASE products establish network connections that a company’s employees can use to remotely access its internal applications. The software also secures those network connections against hacking attempts.

Historically, enabling workers to remotely log into a business application required companies to grant them access to the entire corporate network. That meant employees who only needed to use one or two services could also log into all the other workloads in the network. Using Perimeter 81’s platform, a company can ensure that employees only have access to applications they require for their work.

The platform also makes it possible to regulate user activity in additional ways when necessary. If workers only use a certain application two days a week, Perimeter 81 could block access during the other five days. A company can also configure the platform to only authorize application access attempts if they originate from an authorized employee device.

Perimeter 81 promises to ease other cybersecurity tasks as well. Its SASE platform includes, among features, a tool that protects workers from malicious websites while they’re browsing the web. Perimeter 81 says that the tool can block multiple types of threats including polymorphic malware, or malware that rewrites its own code to evade detection.

Perimeter 81’s platform is one of several SASE products on the market. One way the startup has sought to differentiate its software from rival products is by making it relatively easy to use. According to Perimeter 81, administrators can deploy its platform in as little as one hour instead of the weeks usually required for the task.

Prior to its acquisition by Check Point Software, Perimeter 81 raised $165 million in funding. The five-year-old startup also amassed a customer base of more than 3,000 organizations.

Check Point Software plans to integrate Perimeter 81’s technology into its Infinity offering. Infinity enables enterprises to purchase several of Check Point Software’s cybersecurity products through a single subscription. The company says that the product bundle can help customers cut their cybersecurity costs by up to 20%.

“By leveraging Perimeter 81’s capabilities and integrating them into the Check Point Infinity platform, we continue with our vision to deliver the best security through comprehensive, collaborative and consolidated solutions,” said Check Point Software Chief Executive Officer Gil Shwed. 

Perimeter 81’s SASE platform will enable Check Point Software to compete more effectively in a large and growing market segment. According to Gartner Inc. research cited by the company today, annual SASE spending is expected to surpass $20 billion by 2026. For that reason, a number of other major players in the enterprise technology market have also acquired SASE startups over the past few years. 

Image: Perimeter 81