The Singapore investment company Temasek Holdings is acquiring Israeli startup Signia, which came out of stealth less than a year ago, develops and provides organizations with technology and advice to withstand cyber attacks and respond to attacks. Financial details about the acquisition were not disclosed, but according to sources close to the deal, it stands at $250 million.
Sygnia was being incubated by Team8, an investor/company builder, co-founded by Nadav Zafrir, Israel Grimberg, and Liran Grinberg, all veterans of the Israel Defense Forces Intelligence Unit 8200.
Team8 does not invest in cybersecurity companies but creates them. The Tel Aviv-based company launched in 2015 with backers such Intel, Microsoft, AT&T, Qualcomm, Cisco, Nokia, and Temasek.
Signia founders CEO Shachar Levy, Ariel Smoler, Arick Goomanovsky and Ami Kor, with chairman Nadav Zafrir, the co-founder and CEO of Team8 and a former commander of Unit 8200 – they all will continue to lead the company.
Following the acquisition, Signia is expected to continue operating as an independent company, while collaborating with Temasek and its portfolio companies in Singapore, and beyond.
Sygnia builds cyber resilience against growing security threats. One of them implements a service that simulates massive cyberattack scenarios to stress test networks and critical assets for companies. That allows decision makers to understand how such attacks occur in real time, to identify vulnerabilities within the company and to strengthen their security.
“Aligning with Temasek will strengthen our capability to provide end to end strategic support to organizations in meeting the specter of cyber threats, and allow us to accelerate building our global reach,” CEO Shachar Levy said in a statement.
“Cyber, in its current magnitude, is a new domain of technology, a new domain of warfare, and a new domain of business,” Levy said. “Companies are today confronted with a level of risk which until lately was the realm of militaries and states.”
He said the company offers “military grade security.”
According to the company, its clients are “top organizations worldwide, including Fortune 100 companies” in industries including finance, law, retail and information technology.