Cyber Firm Check Point Buys Perimeter 81 in $490 Million Deal

Cybersecurity company Check Point Software Technologies Ltd. signed a deal to acquire Perimeter 81 for $490 million in a cash-free, debt-free deal that is less than half of what the startup was valued at fourteen months ago.

The agreement is expected to close in the third quarter, Check Point said in a statement Thursday. Both companies have Israeli roots, and Perimeter is based in Tel Aviv.

Check Point’s shares rose 2.3% to $129.29 at 10:55 a.m. in New York.

Perimeter 81, which offers cloud-based security solutions, was valued at $1 billion in its last fund-raising round in June 2022. The ...