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Data Security, Platform Security, Software Security

Lookout Announces Acquisition of its Consumer Mobile Security Business Segment

Businesswire | April 27, 2023 | Read time : 05:00 min

Lookout Announces Acquisition of its Consumer Mobile Security

Lookout, Inc., the endpoint-to-cloud security company, today announced it has entered into an agreement to sell its consumer mobile security business to F-Secure, a global provider of consumer security products and services. This complementary acquisition expands F-Secure’s market leadership in the communication service provider channel and accelerates its vision of becoming the No. 1 security experience company.

With this transaction, Lookout’s core business will now evolve into a pure-play enterprise company.

“In today's complex cybersecurity landscape, consumers want consolidated solutions that secure every aspect of their digital lives in a seamless experience,” said Jim Dolce, Lookout CEO. “Early discussions with F-Secure led both parties to the realization that we’d be better together. The combination creates a holistic, integrated consumer experience while building on a shared partner-centric go-to-market model. The impact on customers is a genuine example of when one plus one equals three.”

With this partial divestiture, Lookout’s core enterprise business will continue to expand and diversify to address the most pressing security challenges facing IT and security leaders today. The core business includes Lookout’s Mobile Endpoint Security (MES) and its Security Services Edge (SSE) cloud-native solution, the Lookout Cloud Security Platform. Lookout plans to redirect the transaction proceeds back into the business and invest in expanding its enterprise products and customer base with a clear focus and vision.

“Our success in the highly competitive enterprise market has compelled us to focus our product and go-to-market efforts to gain advantage,” continued Dolce. “By doubling down on the enterprise market, we’ll be better positioned to capitalize on its projected hypergrowth, fueled by an increase in remote and hybrid work, a shift to cloud-based delivery models and the transition to zero-trust architectures.”

Lookout entered the fast-growing cloud security market through its acquisition of CipherCloud in March 2021, and that business continues to grow and expand. Its Cloud Security Platform was recently scored among the highest three vendors in the 2023 Gartner Critical Capabilities for Security Service Edge (SSE)1 report in each of the four use cases. The Gartner Critical Capabilities for SSE – an essential companion to the Gartner Magic Quadrant™ for SSE2 in which Lookout was named a Visionary for the second year in a row – is a comparative analysis that scores products or services against a set of critical differentiators that every business needs, as identified by Gartner.

The divestiture of Lookout’s consumer mobile security business segment is expected to close by the end of June, 2023.

About Lookout

Lookout, Inc. is the endpoint-to-cloud security company purpose-built for the intersection of enterprise and personal data. We safeguard data across devices, apps, networks and clouds through our unified, cloud-native security platform — a solution that's as fluid and flexible as the modern digital world. By giving organizations and individuals greater control over their data, we enable them to unleash its value and thrive. Lookout is trusted by enterprises of all sizes, government agencies and millions of consumers to protect sensitive data, enabling them to live, work and connect — freely and safely. To learn more about the Lookout Cloud Security Platform, visit www.lookout.com and follow Lookout on our blog, LinkedIn and Twitter.

© 2023 Lookout, Inc. LOOKOUT®, the Lookout Shield Design®, LOOKOUT with Shield Design®, and SIGNAL FLARE® are registered trademarks of Lookout, Inc. in the United States and other countries. DAY OF SHECURITY®, LOOKOUT MOBILE SECURITY®, and POWERED BY LOOKOUT® are registered trademarks of Lookout, Inc. in the United States. Lookout, Inc. maintains common law trademark rights in EVERYTHING IS OK, PROTECTED BY LOOKOUT, CIPHERCLOUD, SCREAM, the 4 Bar Shield Design, and the Lookout multi-color/multi-shaded Wingspan design.

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Skyhigh Security Enables Secure Use of AI Applications with Leading Data Protection Technology

Businesswire | June 29, 2023

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Because of the risks associated with ChatGPT and similar AI applications, many organizations are seeking ways to ensure data is protected while allowing for productive use of the technology. “Securing corporate data in SaaS applications, like ChatGPT and other generative AI applications, is what Skyhigh Security was built to do,” said Anand Ramanathan, chief product officer, Skyhigh Security. “We currently track more than 500 different AI cloud service providers as part of our registry—a 130 percent increase since January. Through the Skyhigh SSE portfolio, organizations already enjoy granular visibility and control of these apps, protect sensitive data, and meet compliance regulations such as PCIDSS, HIPAA, and GDPR, all in one comprehensive solution. 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Globenewswire | July 07, 2023

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GlobeNewswire | August 21, 2023

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Skyhigh Security Enables Secure Use of AI Applications with Leading Data Protection Technology

Businesswire | June 29, 2023

Skyhigh Security today announced it’s enabling organizations to adopt artificial intelligence applications in a secure manner that protects sensitive, confidential, and business critical information through its leading Security Service Edge (SSE) portfolio. Skyhigh Security’s technology protects data and stops threats in the cloud across all websites, Software-as-a-Service (SaaS) applications, Infrastructure-as-a-Service (IaaS) environments and Shadow IT, from a single, cloud-native enforcement point. Skyhigh Security’s purpose-built SSE platform is future-proofed with advanced data protection controls that directly apply to AI apps to protect customers’ business critical data. The same controls will apply to all new and emerging cloud applications in the future to protect against the risks of data loss. Skyhigh Security also delivers the largest and most accurate cloud registry of over 40K+ cloud services, based on a detailed security assessment across more than 75 objective criteria. The Skyhigh Cloud Registry quickly identifies new generative AI apps and the corresponding risk level for each app. According to Skyhigh Security’s global telemetry data from the first half of 2023, close to a million of its users have accessed ChatGPT through corporate infrastructures. The volume of users has increased by 1500 percent from January to June, demonstrating the unprecedented momentum and adoption of generative AI applications across organizations and industries. Because of the risks associated with ChatGPT and similar AI applications, many organizations are seeking ways to ensure data is protected while allowing for productive use of the technology. “Securing corporate data in SaaS applications, like ChatGPT and other generative AI applications, is what Skyhigh Security was built to do,” said Anand Ramanathan, chief product officer, Skyhigh Security. “We currently track more than 500 different AI cloud service providers as part of our registry—a 130 percent increase since January. Through the Skyhigh SSE portfolio, organizations already enjoy granular visibility and control of these apps, protect sensitive data, and meet compliance regulations such as PCIDSS, HIPAA, and GDPR, all in one comprehensive solution. 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This visibility is essential for us to accelerate business productivity, while ensuring our risk is efficiently mitigated.” The Skyhigh SSE portfolio includes Skyhigh Cloud Access Security Broker (CASB), Skyhigh Secure Web Gateway (SWG), Skyhigh Private Access and other products, integrated into its comprehensive Skyhigh Cloud Platform, with Data Loss Prevention (DLP) as a core capability. Through its CASB for Shadow IT and SWG capabilities, it provides advanced data protection for organizations that allows the use of AI applications, including: Visibility into AI applications in use, as well as their corresponding risk levels. With insights into usage trends, businesses can exercise greater control over their data. Control over the amount of data uploads/in posts, lowering the risk of unintentional access to sensitive data. Flexibility in giving access to AI applications. Block complete access to AI applications for all users or simply block just risky/specific AI applications.Restrict AI applications used within your organization by providing access only to users with a business justification. Improved security awareness across the organization by coaching users on the risks of utilizing AI applications. Add pop ups whenever users access these sites, which direct them to not input any sensitive info in the application and note that it will be monitored by DLP. Reduced risk by automatically disabling and deleting the conversation history within AI applications, like ChatGPT, so that corporate data cannot be used to train the system. Prevent copy/paste of sensitive content into AI applications, like ChatGPT, by leveraging Skyhigh Security’s Web Isolation capabilities. Protect sensitive data from being uploaded to AI applications like ChatGPT. Apply DLP policies to block sensitive data from being posted, including social security numbers, bank account numbers, proprietary IP such as source code, employee and customer names. On July 11 and 13, Skyhigh Security will host a special webinar titled, ChatGPT and AI: Embrace It or Fear It, with Skyhigh Security’s Cloud Security Architect, Nate Brady. Register here to attend the webinar and learn more about how to harness AI and cloud services effectively and responsibly. About Skyhigh Security Skyhigh Security is focused on helping customers secure the world’s data. It protects organizations with cloud-native security solutions that are both data-aware and simple to use. Its market-leading Security Service Edge (SSE) Portfolio goes beyond data access and focuses on data use, allowing organizations to collaborate from any device and from anywhere without sacrificing security. For more information, visit www.skyhighsecurity.com.

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GlobeNewswire | August 21, 2023

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