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Symantec Buys Skycure

July 12, 2017

Symantec has entered into an agreement to acquire U.S. and Israel-based Skycure, a leader in mobile threat defense. Following completion of the acquisition, Skycure’s predictive threat detection techniques will enrich Symantec’s enterprise and consumer mobility offerings to help organizations more confidently address the needs of the increasingly mobile workforce, enabling them to ensure that devices are risk-free and secure while accessing corporate resources.

Financial terms of the transaction were not disclosed.

Managed and unmanaged devices like tablets and smartphones are growing in prevalence and flooding the workplace, introducing new risk and vulnerabilities. Last year alone, Symantec’s researchers discovered more than 600 new vulnerabilities on iOS and Android operating systems and mobile malware detections doubled to a total of 18.4 million. To help combat this, Skycure uses artificial intelligence and machine learning techniques to deliver a single, unified solution that proactively protects mobile devices across all major mobile operating systems, delivering unparalleled depth of threat intelligence to predict and detect the broadest range of threats.

Once Skycure is combined with Symantec’s Integrated Cyber Defense Platform, Symantec’s customers will have access to comprehensive and effective endpoint protection offerings across traditional and mobile devices, with enhanced capabilities for mobile devices, applications, network gateways and data protection. To date, Symantec has invested in mobile security through SEP Cloud and Norton Mobile product lines. The protection capabilities in those product lines will expand with this acquisition and puts Symantec on the path to protect more than 1 billion endpoints.

“One of the most dangerous assumptions in today’s world is that iOS and other mobile devices that employees bring into the office are safe, but the apps and data on these devices are under increasing attack. We believe that tomorrow’s workforce will be completely mobile and will demand a cyber defense solution that travels with them,” said Greg Clark, Symantec CEO. “Mobile is a core component of our strategy and the acquisition of Skycure is a major step forward in executing it. Together, we will offer the cloud generation an integrated mobile cyber defense architecture that will protect customers’ mobile devices and networks across iOS, Android and Windows.”

Clark added, “The promise of a mobile threat defense that comes from a combination like Skycure and Symantec is compelling. As we look ahead, we believe the future is mobile-first and requires protection levels that single platform vendors will struggle to provide on their own. Our investments in this area will bring defense-in-depth across platforms including, closed operating systems.”

Adi Sharabani, Co-Founder
and CEO of Skycure, said, “We are delighted to join the Symantec team and are pleased that they recognize the value in our Mobile Threat Defense solution, which allows us to get ahead of attacks before they strike and defend against threats without infringing on end user experience or privacy. Customers want mobile security solutions that are easy to deploy and manage, and our threat protection technology offering complements Symantec’s leading endpoint protection solutions, making it easier for companies to embrace BYOD.”

With the addition of Skycure’s technologies, Symantec will also be positioned to serve as a strategic partner for telecommunications companies seeking to build comprehensive mobile security solutions for their end users. Skycure also has validation from Global 2000 customers in the healthcare and financial sectors.

The transaction is subject to customary closing conditions, and is expected to close in the second fiscal quarter of 2017. Symantec expects Skycure’s technologies to be available to its existing and new Endpoint Protection and Norton Antivirus customers and partners soon after the transaction closes.

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