Singapore: Symantec acquires Israel’s Fireglass, Singtel Innov8 exits

Graphic from Singtel Innov8 Facebook page.

Singtel Innov8 – the corporate venture arm of Singapore Telecommunications – will exit its investment in Israel’s Fireglass following the latter’s acquisition by Nasdaq-listed cyber-security major Symantec.

Israel-based Fireglass, an agentless isolation solution that eliminates ransomware, malware and phishing threats in real-time, has  reportedly raised about $22 million n equity funding to date. Singtel Innov8 participated in its $20 million Series A round in February 2016.

While financial terms are undisclosed, media reports indicate the deal consideration at around $250 million.

The acquisition strengthens Symantec’s integrated cyber defense platform and extends its capabilities in secure web gateway and email protection delivered both on-premises and in the cloud.

The transaction is subject to customary closing conditions and is expected to close in Q3 2017.

Greg Clark, Symantec CEO said, “Integrating Fireglass’ isolation technology with Symantec’s existing endpoint, email and secure web gateway solutions could reduce security events by as much as 70 percent.”

Also Read:

Singapore: Singtel Innov8 leads $20m Series D in CounterTack

Singtel Innov8 particiates in Synack’s $21.25m Series C

Singtel Innov8, Australia’s Future Fund participate in Bitglass’ $45m Series C

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.