VMware, a global software company, is working on a brand-new acquisition deal and is all set to get into a definitive agreement to purchase Lastline, a US-based network security enterprise.
The actual sum of the deal is undisclosed; however, the transaction is likely to close by July 31, 2020.
VMware makes a special mention about Lastline, a company based out of San Mateo, California, by stating that the firm has been recognized in bringing structure and rigor to the world of malware research.
The specialty of Lastline clearly reflects the legacy of 15 PhDs and academics in its team.
John DiLullo, CEO of Lastline, mentioned in his blog post, “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.”
Details about the acquisition
As per sources, the acquisition between the two tech companies will reduce Lastline’s workforce by about 40%. On average, about 50 jobs in the subsidiary will be affected.
As said by Tom Gillis, Senior Vice President and GM, Networking and Security Business Unit at VMware, the company plans to strengthen the academic focus of team Lastline by uniting with forces with the Carbon Black Threat Analysis Unit (TAU) to be able to encourage their deep understanding not just of threat, but of motivation and tactics behind the threat.
Lastline deals with over 5 million file samples every single day. And with its technology, the company protects over 20 million users across thousands of enterprises worldwide, which includes five of the ten largest financial institutions, said Gillis.