- Plurilock Security (PLUR) has acquired CloudCodes Software Private Limited, a cloud access security broker based in India
- CloudCodes has been a leading provider of unique cloud security SaaS enterprise solutions for protecting email and group collaboration platforms
- Plurilock paid CloudCodes approximately US$1,451,148 in cash and shares
- CloudCodes is an international Cloud Security SaaS platform company
- Plurilock provides identity-centric cybersecurity for today’s workforces
- Plurilock Security Inc. (PLUR) opened trading at C$0.215
Plurilock Security (PLUR) has acquired CloudCodes Software Private Limited, a cloud access security broker based in India.
CloudCodes has been a leading provider of unique cloud security SaaS enterprise solutions for protecting email and group collaboration platforms as well as other cybersecurity products, including single-sign-on (SSO), multi-factor authentication (MFA), and cloud data loss prevention (DLP) solutions.
For its fiscal year ending March 31, 2022, CloudCodes generated approximately C$572,000 in product revenue.
Plurilock intends to offer CloudCodes’ CASB solution as an early-access product named Plurilock CLOUD, providing its customers with a cost-effective cloud security solution.
The acquisition is expected to benefit the CloudCodes team as they can leverage Plurilock’s financial resources, deep security, information technology, AI capabilities and expertise, and its top-tier sales team to optimize their operations.
Overall, the acquisition will allow Plurilock to gain a larger footprint in the global zero trust cybersecurity industry.
Ian L. Paterson, CEO of Plurilock, commented on the acquisition.
“We are delighted to have completed the acquisition of CloudCodes. Given CloudCodes’ award-winning CASB solution and international customer base, this acquisition bodes well for our growth strategy as we intend to secure new technology assets to offer more advanced zero trust solutions to our customers and expand our market presence within the global cybersecurity industry. We look forward to welcoming CloudCodes’ staff and integrating their innovative products into our robust technology portfolio.”
Debasish Pramanik, Co-Founder of CloudCodes, added,
“This transaction represents a major milestone for CloudCodes as we will be part of a fast-growing organization that will supply our unique CASB products to the North American market. We are excited about the new opportunities that await us, and we look forward to working with the Plurilock family of companies in developing the next generation of cybersecurity solutions.”
Plurilock paid CloudCodes approximately US$1,451,148 in cash and shares.
CloudCodes is an international Cloud Security SaaS platform company offering a product that protects email and group collaboration platforms like Microsoft 365 and Google Workspace while providing SSO, MFA and DLP functionality.
Plurilock provides identity-centric cybersecurity for today’s workforces.
Plurilock Security Inc. (PLUR) opened trading at C$0.215.
