Peter Bauer on Charting Mimecast's New Course Under PermiraMimecast CEO on How the New X1 Platform Converts Ingested Data Into Security Intel
Most M&A deals are predicated on how quickly the acquisition can show a return on investment, but Permira's $5.8 billion acquisition of Mimecast has allowed the email security vendor to make investments in products and technology that don't provide an immediate financial return.
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A number of financial buyers expressed interest in taking Mimecast private following Thoma Bravo's 2021 purchase of Proofpoint, and co-founder and CEO Peter Bauer is glad the company ended up with Permira given the organization's brainpower and collaboration on various initiatives. With Permira's backing, Mimecast rolled out the X1 Platform to turn the data the company ingests into security intelligence for customers (see: Black Hat: Web3 Defense, Open-Source Intel & Directory Hacks).
"All of our time so far together with Permira has been a very positive and very consistent experience," Bauer says. "That's allowed us to continue to focus on the business, and they've brought a lot of expertise."
In this video interview with Information Security Media Group, Bauer also discusses:
- How Mimecast's X1 Platform brings email and collaboration defense together;
- How existing customers have capitalized on Mimecast X1's new capabilities;
- What he sees as Mimecast's most significant market opportunity in 2023.
Bauer launched Mimecast in 2003 with fellow board member and co-founder Neil Murray. He was born and raised in South Africa, trained as a Microsoft systems engineer and began working with corporate messaging systems in the mid-1990s. Bauer moved to the United Kingdom, where Mimecast was founded, and then moved to Boston, Massachusetts in 2011 to lead the company's aggressive push into North America.