The Cybersecurity company Zerofox acquired IDX the digital privacy Platform and going public with blank-check L&F Acquisition Corp LNFA.N, said company on Monday.
The pandemic has forced companies to adopt a hybrid operating model as demand for digital threat protection grows in cloud-based security host companies.
Companies such as SentinelOne Inc SN are taking advantage of the increased demand, and cybersecurity startup Arctic Wolf is also looking to make its first public offering, Reuters reported last month.
Specialized Public Offerings Companies (SPACs) are also on the rise, despite only a slight tightening of US Securities and Exchange Commission oversight in the first half of this year.
Zerofox, Monarch Alternative Capital, Victory Park Capital and others invested $170bln as part of the merger.
Zerofox Baltimore, Maryland, is an enterprise software company that provides its clients with threat intelligence to prevent malware such as phishing and impersonation. According to the company's website, clients include Intel Corp INTC.O and Microsoft Corp MSFT.O etc.
SPAC is a publicly listed company and has no other business other than finding private companies to merge with.