Cloudflare has acquired Area 1 Security to help it achieve its mission of building a more secure internet. Area 1 Security has developed a cloud-native platform that seamlessly stops email-based phishing attacks by detecting and eliminating the threats before they can damage corporate environments. As a testament to Area 1 Security’s product effectiveness, Cloudflare highlighted that the software stopped 40 million phishing campaigns last year.
Commenting on the acquisition, Matthew Prince, co-founder and CEO of Cloudflare, said:
“Email is the largest cyber attack vector on the Internet, which makes integrated email security critical to any true Zero Trust network. That’s why today we’re welcoming Area 1 Security to help make Cloudflare’s platform the clear leader in Zero Trust. To us, the future of Zero Trust includes an integrated, one-click approach to securing all of an organization’s applications, including its most ubiquitous cloud application, email. Together, we expect we’ll be delivering the fastest, most effective, and most reliable email security on the market.”
According to the announcement, Cloudflare will pick up Area 1 Security for $162 million with 40-50% payable in Cloudflare’s Class A common stock and the remainder in cash. The deal should be closed by the second quarter.
Cloudflare has been in the email security market since 2021 with the launch of its Advanced Email Security Suite but with the acquisition of Area 1 Security, it will be able to boost the number of services it offers in this domain.