US digital communications giant Cisco Systems (Nasdaq: CSCO) has announced that it is acquiring Israeli startup Lightspin. No financial details were disclosed but sources believe the deal is for an an estimated $200 million. Lightspin has developed a cloud security platform and competes with Israeli startups Wiz, Orca Security and Aqua Security. In its most recent financing round in June 2021, funds were raised at a company valuation of $46 million, according to PitchBook.
Lightspin was founded by CEO Vladi Sandler and CTO Or Azarzar. Others who will profit from the acquisition are Michael Dell's venture capital fund Dell Technologies Capital represented in Israel by Yair Snir and Ibex Investors LLC led by Nicole Priel and Gal Gitter.
Cisco SVP Vijoy Pandey said, "Lightspin offers a holistic solution that provides end-to-end cloud security posture management (CSPM) across cloud-native resources. Lightspin takes a unique approach to contextualized cloud-security coverage, using graph-based technology to deliver key context, prioritization, and remediation recommendations. Cisco and Lightspin are aligned with a common goal to help customers modernize their cloud environments with end-to-end security and observability from build to runtime."
This is Cisco's first acquisition in Israel since 2021, when it acquired cloud security companies Epsagon and Sedona Networks. Over the past 20 years the US giant has made many acquisition in Israel in network switches and hardware and in recent years has expanded its acquisitions to cybersecurity and cloud security and expanded its Tel Aviv office. Cisco Israel recently 200 employees in Tel Aviv from previous acquisitions, including Leaba Semiconductor, CloudLock and Portshift to two floors in the new Midtown building.
Published by Globes, Israel business news - en.globes.co.il - on March 29, 2023.
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