Chip giant ARM is in advanced negotiations to acquire Israeli company (formerly Discretix Technologies), located in Kfar Netter. The price is estimated at $75-85 million.
The Israeli company has developed security solutions for cellular devices and flash memory. According to the IVC database, Sansa Security has raised $32 million since it was founded in 2000, meaning that the investors will make back about double their money. Prominent investors in the company over the years include the Sequoia Capital), Accel Partners, Genesis Partners, Pitango Venture Capital, and Poalim Ventures funds.
Gal Salomon, David Deitcher, and Limor Albaz founded Discretix in 2000. Salomon was company CEO for the first 10 years, before deciding to cross the lines and become a partner in Pitango in 2010, with Pitango investing in Discretix. He was appointed chairman of Discretix, and Coby Sella was appointed CEO… [READ MORE]
Published by Globes [online], Israel business news – www.globes-online.com