Cybersecurity SaaS Provider ZeroFox to Acquire IDX and Merge with SPAC.
MANews-(C)2009-2021
US-based external cybersecurity software-as-a-service specialist ZeroFox, Inc and special purpose acquisition company L and F Acquisition Corp. (NYSE: LNFA) have entered into a definitive agreement for a business combination that will result in ZeroFox becoming a publicly traded company with an expected equity value of approximately USD 1.4bn, assuming no redemptions, the companies said.
As part of the transaction, ZeroFox will acquire digital privacy protection and data breach response services company IDX, resulting in the creation of a cybersecurity provider addressing the full lifecycle of external cyber threats and risks for its customers.
Upon closing of the transaction, the combined company will be renamed ZeroFox Holdings, Inc. and expects to be listed under the ticker symbol "ZFOX."
Organizations are increasingly challenged by cybercriminal activity, with the number of employee and customer records compromised exceeding tens of billions annually.
ZeroFox's external cybersecurity solutions go beyond traditional threat intelligence to protect organizations from threats outside the firewall with AI-driven analysis, experienced intelligence analysts with unique dark web access, comprehensive breach response and adversary disruption services and a fully integrated App Library that connects with over 500 applications.
The ZeroFox Platform enables actionable intelligence to disrupt phishing, impersonations, malicious domains and data leakage across the public, deep and dark web, including pervasive cloud-based applications such as Zoom, Slack, Google, Facebook and other social media sites.
The platform processes billions of data elements and protects tens of ms of digital assets around the world.
With customers in over 50 countries and its blue-chip relationships, ZeroFox has proven capabilities to mitigate cyber threats across multiple industries in the public and private sectors.
IDX is the nation's provider of external breach response services, protecting enterprises from associated risks with its proprietary digital protection and privacy platform.
Together, IDX and ZeroFox will provide external threat protection capabilities and breach response services, a holistic offering for companies protecting against, or responding to, an external...
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