Category: Merger & Acquisition

Veeam, a leading provider of backup solutions, has announced its acquisition of Coveware, a cyber incident response firm, in a move aimed at enhancing its ransomware protection technology. The terms of the acquisition remain undisclosed.

Coveware specializes in forensic investigation, extortion negotiation, remediation, and cryptocurrency settlements for companies affected by file-encrypting malware, commonly known as ransomware. Additionally, the company offers decryption services and provides free keys for certain less prominent malware variants.

Anand Eswaran, CEO of Veeam, emphasizes the importance of addressing ransomware threats, citing that 76% of organizations have experienced such attacks in the past year. With this acquisition, Veeam aims to integrate Coveware’s threat intelligence into its proactive data protection solutions.

A survey by IDC reveals that 36% of organizations struggle to recover their data due to backup failures, exacerbating ransomware incidents. Veeam aims to differentiate itself by offering a proactive approach to cyber protection, bolstered by Coveware’s expertise.

Through its Cyber Secure Program, Veeam plans to assist enterprises in ransomware protection, backed by a $5 million warranty. This proactive stance aims to mitigate the impact of ransomware attacks by ensuring data continuity and safeguarding against file-encrypting malware.

Enterprises seeking defense against ransomware attacks can rely on Veeam’s comprehensive solutions, which combine data continuity with advanced malware protection.

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Zscaler, a prominent player in cloud security, has made headlines with its recent acquisition of Israeli startup Avalor for a hefty $350 million. This move marks the third acquisition by Zscaler in recent times, following the purchases of Canonic for $50 million in February and Trustdome for $40 million in 2021, both specializing in artificial intelligence technology.

Avalor brings to the table a wealth of valuable data crucial for training large-scale language models and enhancing predictive capabilities to identify potential vulnerabilities that could lead to data breaches, leveraging its Data Fabric for Security.

Established in 2007 by Jay Chaudary and K. Kailash, Avalor initially secured $38 million in funding from strategic investors in August 2012. Subsequently, in 2018, the company went public, raising an impressive $192 million through its trade on the Nasdaq stock exchange under the symbol ZS. However, recent weeks have seen Zscaler’s stock performance fall short of expectations.

Presently, Zscaler is actively seeking talent for various positions, including Big Data Engineer, Backend Engineer, DevOps Engineer, Front End Engineer, Full Stack Engineer, and Java Backend Engineer, with opportunities based in Israel requiring full-time commitment. Additionally, the company is also recruiting for the role of Product Documentation Specialist.

Zscaler’s latest innovation, the AI Data Fabric, demonstrates advanced capabilities in data ingestion, enrichment, and correlation from hundreds of sources, enhancing its ability to assess and mitigate risks effectively.

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CrowdStrike, an American cybersecurity technology company, has officially announced its acquisition of the Israel-based startup ‘Flow Security’ for $200 million. Flow Security is known as the world’s sole provider of cloud data runtime security solutions, uniquely safeguarding data both at rest and in motion.

The acquisition of Flow Security’s data security posture management technology by CrowdStrike will primarily involve a cash transaction and is set to be finalized by May of this year, subject to customary conditions and applicable laws.

This move will significantly enhance CrowdStrike’s position in the cloud industry, enabling its Falcon platform customers to gain visibility into data flows within the cloud and interactions with onboard applications.

Following the announcement of the new startup acquisition, CrowdStrike’s stock surged from $315 to $405 after the company reported strong fourth-quarter earnings.

Moreover, CrowdStrike has achieved a 100% ransomware protection certification for its Falcon platform in the SE Labs Enterprise Advanced Security Ransomware test. This rigorous test includes the use of approximately 270 recognized malware samples and an additional 106 different ransomware samples in controlled environments.

Among the ransomware samples tested in SE Labs’ environments are BlackCat (also known as ALPHV), Black Basta, Bad Rabbit, Babuk, Avaddon, Diavol, HelloKitty, LockBit, Hermes, and Robbihood.

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Cohesity, a leading provider of security software, has made a significant public announcement regarding its intention to acquire data security firm Veritas, a move that is poised to elevate the valuation of the combined entity to over $7 billion. This acquisition comes as a surprise, especially considering Cohesity’s recent declaration of its plans to go public and enter the stock market in the coming months.

Cohesity is renowned for its AI-powered integration capabilities within its proprietary software, which simplifies the process of searching for and recovering large datasets, offering users a seamless experience.

Previously a part of the Carlyle Group following its acquisition from Symantec in 2016, Veritas will now undergo a merger with Cohesity, with Veritas CEO, Grey Hughes, set to join Cohesity’s management team. The completion of this deal is anticipated by the end of 2024, pending compliance with all data regulations and backup and recovery protocols in accordance with existing laws.

In January 2023, industry analysts predicted a subdued year for mergers and acquisitions, citing factors such as a sluggish economic climate and the uncertainty surrounding the 2024 election as potential influencers on deal-making activity. Consequently, the completion of the Cohesity-Veritas merger may occur as early as May of this year or as late as September 2024.

With both companies poised to join forces, there is speculation within the industry that the resulting synergy could establish a formidable presence in the data security sector, potentially reshaping its landscape in the foreseeable future.

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SentinelOne, a leading provider of AI-based enterprise security solutions, has recently revealed its plans to acquire PingSafe, a specialized application security firm, in an undisclosed cash and stock deal. The primary goal behind this strategic move is the seamless integration of PingSafe’s Cloud Native Application Protection Platform (CNAPP) technology into SentinelOne’s Singularity Platform. This integration aims to redefine cloud security technology by incorporating advanced AI and analytics capabilities, thereby enhancing protection for cloud workloads.

With the surge in cloud adoption, customers often grapple with managing complexities stemming from various point solutions and data silos. PingSafe’s CNAPP offers a comprehensive solution by facilitating the monitoring of multiple cloud workloads with easy setup, configuration, and minimal false positives. This approach ensures cyber hygiene across the entire cloud footprint.

The amalgamation of PingSafe into SentinelOne signifies a unified security approach, empowering organizations to manage their attack surface more effectively. Through automation-driven real-time detection, analysis, and thwarting, the integrated platform will play a pivotal role in mitigating multistage attacks.

According to sources within SentinelOne, the acquisition of PingSafe, headquartered in Bengaluru, is anticipated to conclude by the first quarter of 2025. The timeline accounts for the necessary regulatory approvals and customary closing conditions that the deal must undergo.

The CNAPP technology, integral to this acquisition, proves instrumental in enhancing security protocols within data centers serving cloud customers. Its continuous monitoring of workloads in serverless environments, Kubernetes clusters, and other cloud environments enables swift detection and alerts administrators about misconfigurations, code vulnerabilities, and potential security breaches, thereby fortifying defenses against data breaches.

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Israel-based browser-based startup Talon Cyber Security has recently been acquired by the networking giant Palo Alto Networks. Palo Alto Networks has been actively integrating new technology into its existing products. Remarkably, this acquisition was not hindered by the ongoing conflict between Israel and Hamas terrorists. The acquisition is expected to be finalized by February of the following year.

Palo Alto Networks purchased Talon Cyber Security for $615 million, and all 130 employees are slated to transition to Palo Alto’s payroll by December of this year, pending a smooth process. Both founders, Ohad Bobrov and Ofer Ben-Noon, will continue to lead their respective teams.

This acquisition followed the successful integration of technology from Dig Security into Palo Alto’s Santa Clara-based Prisma Cloud Platform.

Founded in 2021, Talon offers cutting-edge enterprise browser-based technology integrated with Prisma SASE, aimed at protecting enterprise applications from potential threats originating from connecting devices.

In a time when many international firms were hesitant to invest in businesses operating in Israel due to the ongoing conflict, Palo Alto Networks demonstrated its commitment to expanding its business by acquiring Talon Cyber Security.

It’s worth noting that Jim Cramer’s recent focus on explaining stock market statistics and his suggestions to competitors about buying Palo Alto Networks are not directly related to this acquisition.

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Palo Alto Networks, a cybersecurity company based in California, has officially announced its acquisition of the security startup ‘Dig Security,‘ although the exact purchase price remains undisclosed. The announcement comes after weeks of speculation on Reddit, suggesting that Dig initially hesitated to accept the terms and conditions presented by Palo Alto since September this year. However, they eventually reached an agreement, putting an end to the ongoing speculation surrounding the deal.

In today’s data-driven world, where information is spread across various platforms, safeguarding it with multi-layered security measures is imperative. Organizations are actively seeking robust data security posture management solutions, and Palo Alto aims to provide this technology by integrating Dig Security’s expertise into its Prisma Cloud Platform. This integration will enhance security management across multiple cloud domains and mitigate the risks associated with data breaches.

In another notable acquisition, the technology giant Accenture has officially announced its acquisition of Spain-based Innotec Security, a company specializing in providing cybersecurity-as-a-service and assisting businesses in achieving cyber resilience and managing cyber risks. While the financial terms of the deal have not been disclosed, Entelgy Group, the previous owner of Innotec Security, has confirmed the authenticity of the news. They have stated that the formalization of the deal’s terms will be completed by the end of this month, with the entire purchase process anticipated to conclude by February 2024.

Innotec Security was widely recognized as a leader in offering threat detection, simulation, analysis, and incident management services in Spain. Its client base spans various industries, including finance, manufacturing, logistics, healthcare, transportation, and the public sector. Accenture’s strategic move to acquire Innotec Security aims to enhance its regional capabilities and resources, leveraging the technology and customer database from the Spanish firm to solidify its corporate presence across Europe.

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Cisco, a prominent player in the networking industry, has recently completed a significant acquisition by purchasing cybersecurity solutions provider Splunk for a substantial sum of $28 billion. This announcement was made public through the company’s PR division, shedding light on the transformative impact this move will have on their threat detection capabilities and revenue growth.

Splunk is renowned for its ability to help organizations achieve digital resilience, and Cisco intends to harness the technology acquired from this acquisition to bolster the security of its users’ digital environments.

In today’s rapidly evolving digital landscape, businesses are increasingly embracing digitalization. To effectively navigate the overwhelming influx of data and safeguard data integrity against cyber threats, companies are actively seeking solutions that streamline data management and protection.

According to Cisco’s annual report for 2022, the big data market is projected to reach a staggering $400 billion by 2030, largely fueled by advancements in generative AI. To address the diverse needs of various markets while prioritizing security, Cisco has strategically chosen to simplify the complexities associated with AI security challenges through its acquisition of technology from Splunk.

It’s worth noting that Cisco had initially considered acquiring SentinelOne, but ultimately decided to withdraw from the deal due to concerns related to the calculation of annualized recurring revenue. This raised doubts within the networking giant about the software technology’s potential revenue generation post-acquisition.

The decision to pull out had a significant impact on the shares associated with SentinelOne, resulting in a sharp 35% decline from their value at the end of the previous week. This abrupt withdrawal occurred because the current market capitalization of SentinelOne was locked at $4.9 billion, which fell considerably short of Cisco’s estimated value of $8 billion for the deal.

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Bionic, a pioneering provider of Application Security Posture Management (ASPM) solutions, is celebrating a significant development as it becomes an integral part of CrowdStrike’s talented team. The acquisition of Bionic by CrowdStrike, a leading cybersecurity solutions company, has been completed for an undisclosed amount, believed to consist mostly of cash with a portion in stock, totaling an estimated $340 million.

This strategic move will see CrowdStrike incorporate Bionic’s ASPM technology into its in-house Cloud Native Application Protection Platform (CNAPP), bolstering its capabilities in risk visibility and cloud estate protection.

The announcement of this acquisition took place during CrowdStrike’s Falcon Conference 2023, which coincided with the release of its latest financial results. According to CrowdStrike’s 2023 Global Threat Report, incidents of cloud exploitations have surged threefold in the past year, and this trend is expected to continue its exponential growth in the coming years. As threat actors leverage AI-based tools to become more sophisticated, the threat landscape could become even more alarming by 2025.

Despite these escalating threats, the adoption of cloud computing remains steadfast in both corporate and public IT environments. The advantages of cloud computing far outweigh the drawbacks.

With Bionic’s technology, which includes both agent and agentless protection solutions for cloud infrastructure, CrowdStrike’s customers will gain real-time, frictionless application visibility. They will be able to swiftly prioritize vulnerabilities at the application level and enjoy comprehensive visibility into serverless infrastructure. This strategic integration positions CrowdStrike to effectively address the evolving cybersecurity challenges posed by the rapid growth of cloud-based technologies.

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Tenable Inc., the cybersecurity company headquartered in Maryland, has officially revealed its plans to acquire the Israel-based Cloud Security Startup, Ermetic. Although the exact financial terms of the deal have not been disclosed, reliable sources have indicated that the acquisition will be valued at $265 million, a figure lower than the previously estimated $340 million proposed by some industry analysts.

Ermetic’s management has expressed enthusiasm regarding the acquisition. They are content with the agreement, as all of their assets are set to be purchased for $240 million in cash and an additional $25 million in stocks and RSUs, with the deal expected to be completed by the end of this year.

Reports suggest that Ermetic’s technology will play a pivotal role in enhancing Tenable’s ‘Exposure Management Platform,’ which encompasses various features such as vulnerability management, web application security, cloud security, identity security, and attack surface management, including OT security.

Notably, Tenable’s Exposure Management Platform recently integrated advanced AI capabilities into its services, introducing the ExposureAI engine. This highly scalable engine is designed to generate actionable insights for risk remediation and reduction.

Tenable’s acquisition history includes:

 In 2016, Tenable acquired FlawCheck for $32 million.

 The company successfully acquired the Israel-based technology startup Indegy LTD for $78 million.

 In April 2022, Tenable announced its intention to acquire the attack surface management software startup Bit Discovery for $45 million.

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