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Cloudflare to Buy Area 1 Security in Push to Protect Against Phishing Emails

  • The $162 million deal will bolster the company’s product suite
  • Cloudflare is among software vendors targeting email security
 Cloudflare headquarters in San Francisco, California.

 Cloudflare headquarters in San Francisco, California.

Photographer: David Paul Morris/Bloomberg

Cloudflare Inc. said it has agreed to buy email protection provider Area 1 Security Inc. for $162 million, the security vendor’s largest acquisition to date as it looks to tackle a significant area of potential cyber vulnerabilities for businesses.  

The cash-and-stock deal is expected to close in the second quarter, Cloudflare said Wednesday. Closely held Area 1 Security, founded in 2014, had less than $10 million in annual revenue last year, and is “growing quickly,”said Cloudflare co-founder and Chief Executive Officer Matthew Prince. In January, the startup said its “growth rate more than doubled” last year.