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Cloudflare (NYSE: NET) has completed its acquisition of Area 1 Security, enhancing its Zero Trust security platform with advanced email protection. This merger addresses critical security threats, including phishing, which costs U.S. businesses over $2.4 billion annually. Cloudflare aims to provide an integrated approach to email security, enabling organizations to block various threats easily. Area 1's technology will be available immediately for enterprise customers, fortifying Cloudflare's global network and streamlining security for organizations.
Positive
Acquisition of Area 1 Security expands Cloudflare's email security capabilities.
Addresses significant security threats such as phishing, which costs U.S. businesses over $2.4 billion annually.
Combining technologies creates a comprehensive Zero Trust security platform that enhances customer offering.
Immediate availability of Area 1's security features for enterprise customers strengthens Cloudflare's market position.
Negative
None.
Acquisition will integrate robust email security with Cloudflare’s global network to give customers a complete Zero Trust security platform
SAN FRANCISCO--(BUSINESS WIRE)--
Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced it has completed its acquisition of Area 1 Security.
Email is both one of the largest cloud applications for any business, and the biggest security threats that organizations of all sizes face. Yet legacy email security solutions are often expensive, overly complex, and disjointed from an organization’s holistic security strategy. Further, malicious phishing and business email compromise campaigns are incredibly costly—with U.S. businesses losing more than $2.4 billion a year according to data from the FBI’s Internet Crime Complaint Center 2021 Internet Crime Report. With the acquisition of Area 1 Security, Cloudflare will provide organizations an easy way to block phishing, malware, business email compromise and other advanced threats as part of an integrated, Zero Trust approach to securing all of their organizations’ applications.
“Cloudflare's mission is to help build a better Internet, and we've invested heavily in building the world's most powerful cloud network to deliver a faster, safer, and more reliable Internet for our users. Now we're officially able to welcome the Area 1 team to Cloudflare and enhance our ability to secure the number one place where security threats come from, email," said Matthew Prince, co-founder & CEO of Cloudflare. "To us, Zero Trust security without email built in is worth nearly zero. By bringing email security and Zero Trust together with Area 1 Security, we believe that we will give customers the most complete Zero Trust security platform available."
Area 1 Security’s cloud native platform, which works seamlessly with any email offering, stops phishing and other advanced email attacks by preemptively discovering and eliminating them before they can inflict damage in a corporate environment. By combining Area 1 Security’s highly scalable technology and years of experience in email protection with Cloudflare’s global network, the two companies will provide a holistic Zero Trust solution that customers can enable through Cloudflare’s global network. Area 1 Security’s email security capabilities will be available for purchase for all enterprise plan customers today, and will be available to customers on all other paid plans in the months to come.
"Cloudflare delivers one of the world’s leading Zero Trust networks, and we're excited about what we'll be able to build together for our customers and channel partners," said Patrick Sweeney, CEO and President of Area 1 Security. "By joining forces, Area 1’s technology and Cloudflare's global network will give customers the most complete Zero Trust security platform available, inclusive of securing the most critical of today’s business applications – your email."
To learn more, please check out the resources below:
Cloudflare, Inc. (www.cloudflare.com / @cloudflare) is on a mission to help build a better Internet. Cloudflare’s suite of products protect and accelerate any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare was named to Entrepreneur Magazine’s Top Company Cultures 2018 list and ranked among the World’s Most Innovative Companies by Fast Company in 2019. Headquartered in San Francisco, CA, Cloudflare has offices in Austin, TX, Champaign, IL, New York, NY, San Jose, CA, Seattle, WA, Washington, D.C., Toronto, Lisbon, London, Munich, Paris, Beijing, Singapore, Sydney, and Tokyo.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “explore,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these words, or other similar terms or expressions that concern Cloudflare’s expectations, strategy, plans, or intentions. However, not all forward-looking statements contain these identifying words. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding the capabilities and effectiveness of Cloudflare’s Zero Trust and other products and Area 1 Security’s email security platform, the benefits to Cloudflare’s customers from using Cloudflare Zero Trust products, the Area 1 Security email security platform, and Cloudflare’s other products and technology, the expected functionality and performance of Cloudflare’s Zero Trust products, the Area 1 Security email security platform, and Cloudflare’s other products and technology, the timing of when Cloudflare’s Zero trust products and Area 1 Security’s email security platform will be generally available to all current and potential Cloudflare customers, Cloudflare’s plans and objectives for, and the timing of, the integration of the Area 1 Security email solution into Cloudflare’s Zero Trust products, Cloudflare’s technological development, future operations, growth, initiatives, or strategies, and comments made by Cloudflare’s CEO, Area 1 Security’s CEO and others. Cloudflare’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Cloudflare’s filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K filed on March 1, 2022, as well as other filings that Cloudflare may make from time to time with the SEC.
The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Cloudflare undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Cloudflare may not actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements, and you should not place undue reliance on Cloudflare’s forward-looking statements.
Cloudflare, Inc. Daniella Vallurupalli Vice President, Head of Global Communications press@cloudflare.com
Source: Cloudflare, Inc.
FAQ
What is the significance of Cloudflare's acquisition of Area 1 Security?
The acquisition strengthens Cloudflare's Zero Trust security platform by integrating advanced email protection, aiming to combat prevalent security threats.
How much do phishing attacks cost U.S. businesses?
Phishing and related attacks cost U.S. businesses over $2.4 billion annually, highlighting the necessity for robust email security.
When will Area 1 Security's email protection features be available?
The email security features from Area 1 Security will be available for enterprise customers immediately and for other paid plans in the coming months.
What threats does the integrated email security from Cloudflare and Area 1 Security address?
The integrated solution will help block phishing, malware, and business email compromise, enhancing overall organizational security.
What is Cloudflare's approach to Zero Trust security?
Cloudflare's approach to Zero Trust security focuses on integrating various security measures, including email protection, to create a comprehensive defense strategy for organizations.
