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Cybersecurity Company Tufin Acquired for $570 Million

Tufin

Tufin, an Israeli cyber security company offering a policy-centric approach to security and IT operations, is set to be acquired by Turn/River Capital, a software-focused investment firm, in an all-cash transaction that values Tufin at approximately $570 million. Under the terms of the agreement, Tufin shareholders will receive $13.00 per share in cash, representing a premium of approximately 44% over Tufin’s closing share price on April 5, 2022.

Israel Startup Nation is best known for its cyber security firms, so Tufin is in good company. Liberty Strategic Capital, the private equity firm founded and led by former U.S. Secretary of the Treasury Steve Mnuchin, paid $525 million last month for Zimperium, an Israeli firm that offers a mobile security platform purpose-built for enterprise environments.

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Tufin says that it simplifies the management of some of the largest, most complex networks in the world, consisting of thousands of firewall and network devices and emerging hybrid cloud infrastructures.

“A single solution designed to meet the needs of both network and cloud security teams, the Suite reduces the attack surface and meets the need for greater visibility into secure and reliable application connectivity.”

With over 2,000 customers since its inception, Tufin’s network security automation enables enterprises to implement accurate changes in minutes instead of days, while improving their security posture and business agility.

“Today’s announcement is a testament to Tufin’s leadership in security policy management for hybrid networks and cloud environments,” said Ruvi Kitov, Chairman, CEO, and Co-Founder of Tufin. “Since our inception nearly 20 years ago, we have made significant strides in developing our policy-based automation solution and have become a market leader. This deal represents an important milestone for Tufin, and as a private company, we will have the opportunity to accelerate our growth through investments in our technology, people, and go-to-market. The team at Turn/River specializes in helping software companies like Tufin, and with their partnership and expertise I am confident that we will be able to achieve our long-term goals faster.”

“We believe Turn/River Capital is the ideal partner for Tufin as the Company makes further progress to a subscription-based revenue model,” said Tom Schodorf, the Lead Independent Director of the Tufin Board of Directors. “We are confident this transaction with Turn/River will allow Tufin to accelerate this transition, expand to new markets, and reach new customer segments.”

“Tufin is an industry leader in network security policy management, helping enterprise customers secure their most critical network infrastructure and cloud assets,” said Dominic Ang, Founder and Managing Partner of Turn/River Capital. “We are incredibly excited to bring our best-in-class operations team, with their deep expertise in marketing, sales and customer success, to our partnership with Tufin. We look forward to working hand in hand with them to drive accelerated growth and scale.”

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