Palo Alto Networks Inc (PANW) acquires Israeli cyber security company for $200M
Palo Alto Networks Inc (NYSE:PANW) has acquired Israeli cyber security firm Cyvera for $200 million. Cyvera will bolster Palo Alto Networks’ enterprise security platform by adding real-time malware prevention software that has a goal of protecting the endpoint. The transaction is expected to close in the second half of fiscal 2014.
“This event marks a key milestone in our strategic enterprise security vision. It extends our next-generation security platform with a very innovative approach to preventing attacks on the endpoint,” said Palo Alto CEO Mark McLaughlin.
Cyvera has 55 employees in Tel Aviv and a number of clients across the world in the government, finance, health, and tech sectors.
“Much like Palo Alto Networks set out to disrupt the network security market with its next-generation security platform, we founded Cyvera to revolutionize protection for the endpoint — one of the most vulnerable frontiers for cyber attacks,” added Cyvera co-founders and co-CEOs Uri Alter and Netanel Davidi.
Palo Alto Networks paid for the deal in cash instead of equity. About three months ago, Palo Alto announced a deal to acquire Morta Security.