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ACQUISITION

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

ACQUISITION

NOTE 3:- ACQUISITIONS

On September 17, 2020 the Company completed the acquisition of all outstanding shares of Odo Security Ltd., a privately-held Israeli-based company, and a developer of a cloud-based, clientless Secure Access Service Edge (SASE) technology that delivers secure remote access.

On September 1, 2021, the Company completed the acquisition of all outstanding shares of Avanan Inc. (“Avanan”), a privately-held US-based company providing cloud email security, and the developer of a patented application-programming interface (API) solution to stop email threats before arriving to the inbox (inline), for both internal and external emails using AI based engines. The Company acquired Avanan for total consideration of approximately $227.1.

The purchase price for all the acquisitions mentioned was allocated to tangible and intangible assets acquired and liabilities assumed based on their respective fair values.

In addition, the transactions included additional consideration related to compensation for post combination services which were recorded as prepaid expenses and other long term assets and will be recognized over the requisite service period.

The Company accounted for this transaction as a business combination and allocated the purchase consideration to assets acquired and liabilities assumed based on their estimated fair values, as presented in the following table:

		Weighted         Average Useful Life				Amount
Goodwill						$	194.2
Core technology			8 Years				26.7
Customer relationship			4 Years				5.8
Net assets assumed							0.4
Total						$	227.1

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- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-URI http://asc.fasb.org/topic&trid=2303972

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- References

No definition available.

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