Next-generation security company Palo Alto Networks has acquired Israeli cyber security startup LightCyber for $105 million. Globes reports of additional $25 million in shares.
This is Palo Alto Networks second Israeli acquisition after buying information security company Cyvera in 2014 for $200 million.
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LightCyber has developed a prestigious Red Herring Awards, highly automated and accurate behavioral analytics technology, using machine learning to identify attacks based on behavioral anomalies inside the network.
LightCyber’s investors include Access Industries, through its Israeli technology investments entity, Claltech, and network security luminary Shlomo Kramer, who joined the LightCyber board of directors last year, Battery Ventures, Glilot Capital Partners and Amplify Partners.
Founded in 2012 by CPO Giora Engel and CTO Michael Mumcuglu, LightCyber has raised $32 million including $20 million in June 2016. The company has annual revenue of $10 million and offices in Israel and the U.S.
The company’s products have been deployed by top-tier customers around the world in industries including the financial, legal, telecom, government, media and technology sectors.
Palo Alto Networks Acquires Israeli Start-Up Cyvera For $200 Million
Early investors Glilot Capital will see $27 million for its $4 million investment, while Shlomo Kramer with a 12 percent stake will see $16 million.
Palo Alto Networks will continue to offer the LightCyber products and support existing customer implementations while it engineers the technology into the Palo Alto Networks Next-Generation Security Platform by the end of the calendar year. Bringing behavioral analytics to the platform will enhance its automated threat prevention capabilities and the ability for customer organizations to prevent cyber breaches throughout the entire attack life cycle.
Palo Alto Networks chairman and CEO Mark McLaughlin said, “The LightCyber team’s vision to bring automation and machine learning to bear in addressing the very difficult task of identifying otherwise undetected and often very sophisticated attacks inside the network is well-aligned with our platform approach. This technology will complement the existing automated threat prevention capabilities of our platform to help organizations not only improve but also scale their security protections to prevent cyber breaches.”
