Today (Wednesday), Israeli cyber giant Check Point announced it will acquire Israeli startup Odo Security, which develops a distributed and compartmentalized virtual network that provides zero-trust-always-verify, protection. The exit number is still up in the air, but according to reports looks to be in the area of $30 million. Furthermore, all current Odo employees are expected to join the Check Point team.
Check Point’s system will be better adapted to the new-normal
Odo’s zero-trust-network-access enables secure connection and authorization management for cloud assets from any device and from anywhere. Deployment of the platform takes less than 5 minutes, it’s just setting up simple docker. The cyber-security team can monitor the dashboard and see live authorizations, giving the security team full control of who can access what.
Check Point announced that it will implement Odo’s technology in its Infinty architecture, further enhancing its adoption of the work-from-anywhere (WFA) reality. “Many organizations think that they need to compromise on the quality of their organizational network or security measures, in order to enable productive remote work. Combining the unique technology we acquired with our threat prevention services easily solves that dilemma,” according to Check Point VP of Product and R&D, Dorit Dor. Obviously, like everything else during COVID reality, the whole deal was cut over Zoom, according to people involved in the process.
Odo was founded in 2017 by CEO Or Zilberman, CPO Noa Zilberman, and CTO Gilad Steinberg. The three first met during their B.A. studies, with Noa and Or being married. The company employs 17 people in Tel Aviv, and until the Check Point deal had raised $5 million in a single Seed funding round led by Magma, TLV Partners, and KDC Media, which will all be happy with the rumored $30 million exit.