The company seeks to end mobile security gaps and lead business users to a promised land of smartphone safety
Israel’s Lacoon Mobile Security announced on Thursday that it has been acquired by Israeli data security firm Check Point Software Technologies. The purchase price is estimated to be $100 million. The deal will be completed in the next few days, with all 40 of Lacoon’s employees finding a home at CheckPoint.
Lacoon offers real-time security for Android and iOS business users. After installing the app, which runs in the background of your machine, users are protected from zero-day attacks, remote takeovers, takeover of apps, data theft and of course any attempt to harm the user or their data.
The company’s product has two aspects. The first is security at the level of the organizational network and monitoring data that enters and exits the network in an attempt to detect unusual patterns. The second aspect is located directly on the cellular network of the operator.
Lacoon Mobile Security was founded in 2011 by Emanuel Avner, Ohad Bobrov and Michael Shaulov. All three were experienced in the field of cybersecurity, and they founded Lacoon to address the pain point of mobile devices, which are particularly vulnerable to attack. Today the company is considered to be a world leader in protecting business smartphones from cyber attacks.
So far, the company has raised $11 million. The shareholders include the three founders, who are entitled to 30 percent, investors Shlom Kramer, Amichai Shulman and Rakesh K. Loonkar who get 35 percent, and finally Index Ventures, which gets 20 percent.
The company’s 40 employees own another 15 percent of the shares. Among the company’s prominent customers are Samsung, the Israel Police and credit card companies. Lacoon has offices in San Francisco, New York, London and Tel Aviv.
A spokesperson for Lacoon said in a statement, “This sale of the company to Check Point will allow it to quickly grow to respond to the growing need for smartphone security. Lacoon has the potential to protect all smartphones in every business in the world. Acquiring Lacoon will help Check Point lead the mobile protection market and position it as a dominant player in the field.”
Simona Weinglass translated the original Hebrew article.