Israeli Cyvera to be acquired by Palo Alto Networks for $150M
Cyvera has raised $13M making the emerging deal a very nice multiplier for entrepreneurs and investors. Palo Alto Networks has seen their stock jump by 15% as a result
Information obtained by Geektime confirms previously released reports on acquisition talks taking place between Palo Alto Networks – from Israeli entrepreneur Nir Zuk and Israeli startup Cyvera – a cybersec company developing solutions to protect against Zero-Day attacks, with a rumored purchase price of $150M. Cyvera has raised $13M to date: $2M in 2011 from Blumberg Capital and $11M last August from Battery Ventures, Blumberg Capital, Ehud Weinstein and Dr. Ofir Shalvi.
Cyvera was founded in 2011 by Uri Alter, Natanel Davidi and Moshe Ben- Abu. Currently they operate two offices, one out of Tel Aviv and the other out of San Francisco. The company launched their product in 2012 and are now working with a number of partners in a variety of sectors including finance, energy, chemicals, legal, high-tech and others. Palo Alto Networks was founded in 2005 by Nir Zuk along with Indian entrepreneur Rajiv Matera (former VP of engineering at Juniper). The company issued an IPO in July of 2012 and was most recently valued at $4.91B. Since the rumors of a Cyvera acquisition began some 5 days ago PAN’s shares have risen nearly 15 percentage points as a result.
Unique solutions for information security
The technology developed by Cyvera has a unique approach to cyber security that differs from other security solutions on the market today. Instead of trying to identify the attack before it takes place, the company prevents attacks with offensive action using a hacker’s own toolbox against them. The company’s system blocks attempts to exploit weaknesses in software and prevents hackers from capitalizing on ‘social’ tactics that encourage users to run malicious files on their computers.
The company’s flagship product is called Cyvera TRAPS or Remote Targeted Attack Prevention System and Client-Side platform . The product provides security vulnerable endpoints and Central Management Systems while syncing with alert centers. The agents set traps and roadblocks that intercept malware before making it to a legitimate target. Additionally, the system offers a secluded environment for research and analysis of attacks based on forensic evidence collected during a penetration attempt. So Cyvera not only helps protect and prevent attacks to companies but they also help those companies understand who initiated the attack, what they were targeting and how they planned to break in.
CEO and Co-Founder Netanel Davidi told Geektime in a recent interview that the company is not at all interested in trying to figure out when an attack will take place as such predictions are impossible and an overall waste of resources. Instead, the company looks to understand the where and how of attacks; what techniques hackers will use and where will they employ them, so that they can go on the offensive and intercept those attacks in their early stages before they can inflict any real damage.