Global enterprise software major VMware has entered into a definitive agreement to acquire US-based network security company Lastline.
The transaction is expected to close by July 31, but the two companies did not disclose the deal amount.
“By joining forces with VMware, we will be able to offer additional capabilities to our customers and bring to market comprehensive security solutions for the data center, branch office and remote and mobile users,” Lastline’s CEO John DiLullo wrote in a blog post on Thursday.
Headquartered in San Mateo, California, Lastline team has been credited with bringing structure and rigor to the world of malware research, according to VMware.
This is reflected in the fact that the Lastline team has 15 PhDs and academics on staff.
According to a report in TechCrunch, Lastline’s workforce will reduce by about 40 per cent as a result of the company’s acquisition by VMware. This may affect jobs of about 50 employees.
“At VMware, we will amplify the academic focus of the Lastline team, and by joining forces with the Carbon Black Threat Analysis Unit (TAU), continue to foster their deep understanding not just of the threat, but of the motivation and tactics behind the threat,” Tom Gillis, Senior Vice President and GM, Networking and Security Business Unit, Vmware, said in a separate blog post.
Lastline detonates more than five million file samples daily, and the Lastline technology protects more than 20 million users across 1000’s of organisations around the world, including five of the 10 largest financial institutions, Gillis said.