US cybersecurity company Palo Alto Networks, a cybersecurity company founded by Israeli Nir Zuk, announced that it has agreed to acquire Israeli cybersecurity startup Secdo, which develops solutions for enterprise security operations teams for quick incident responses.
Secdo’s patented technology “uses assisted learning combined with the only thread-level visibility to automatically investigate and respond to every alert from any security technology,” the company says.
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The terms of the agreement were not disclosed, but sources close to the deal told Israeli media that Palo Alto Networks will pay $100 million mostly in cash but also in shares.
Palo Alto Networks added in a statement: “Secdo’s team of elite engineers will complement the deep security expertise and innovation inside the Palo Alto Networks research and development organization.”
Mark McLaughlin, chairman and CEO of Palo Alto Networks said, “With Secdo’s EDR capabilities as part of our platform, we will accelerate our ability to detect and prevent successful cyber attacks across the cloud, endpoint, and network.”
Founded by two friends graduates of the IDF 8200 intelligence unit, CEO Shai Morag and CTO Gil Barak, in 2015, Ra’anana based Secdo has developed a platform to provide Next-Generation Incident Response solutions on cyberattacks.
The company has raised $11 million to date, Investors include RDC, owned by and Rafael Advanced Defense Systems and Elron Electronic , Check Point founder Marius Nacht and Eyal Ofer’s O.G. Tech Ventures.
CEO Shai Morag said Secdo was founded “to dramatically increase visibility for security operations teams to reduce the time it takes to detect and respond to an alert. The combined capabilities of Secdo and Palo Alto Networks will provide customers the capabilities they need to swiftly and accurately detect and respond to cyber attacks.”
Palo Alto Networks in 2017 acquired Isreali startup LightCyber for $130 million and Cyvera for about $200 million in 2014. The Santa Clara, California-based company announced early 2018 the opening of a new R&D center in Tel Aviv.