Minerva Labs, an Israeli cybersecurity startup, is being acquired by Rapid7, a cybersecurity firm that deals with cloud risk and threat detection, for $45 million, $38 million in cash. Minerva’s 14 employees will now go to work for Rapid7.
Rapid7 is a cybersecurity firm that declares its mission is to create a safer digital world by making cybersecurity simpler and more accessible. Rapid7’s security solutions help more than 10,000 global customers unite cloud risk management and threat detection to reduce attack surfaces and eliminate threats with speed and precision. The company currently has a market cap of around $2.4 billion.
Three entrepreneurs established Minerva Labsin 2014: Edi Bobritzki, Erez Briman and Omri Moyal. The company has developed a novel, revolutionary product that protect systems from focused attacks without the need of prior- knowledge/ intelligence/ recognition. The company’s patent based solution created a new paradigm (prevention without recognition).
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“Today is a monumental day for Minerva,” said Eddy Bobritsky, co-founder and CEO of Minerva Labs. “We’ve worked tirelessly to create technology that combats ransomware and puts the power back in the hands of organizations. We are excited to join Rapid7 to continue this journey and integrate our technology into Rapid7’s industry-leading managed detection and response capabilities.”
But Bobritsky told Calcalist that Minerva Labs was not even looking to get bought out.
“Our focus was strategic investment from cyber companies that have a significant market hold,” he explained. “We wanted to penetrate the market faster through them and on the basis of the infrastructure they built.”
The Minerva Labs CEO went on to say that cyber companies know how to value technology, so the talks also progressed to the level of examining the technology and various integration options. This, in turn, led to talks about the possibility of selling the company when the buyer “presented us with its vision and how Minerva integrates into it. Finally, Erez and I decided to sell the company as a strategy to join a larger organization that manages developed marketing infrastructures.”