Microsoft Corp. (Nasdaq: MSFT) has acquired Israeli cyber security company Hexadite for $100 million, according to market sources.
Founded in 2014 by CEO Eran Barak, CTO Idan Levin and CPO Barak Klinghoffer, the company has raised only $10.5 million to date thus yielding a tenfold profit. Last year, the company raised $8 million in a Series A funding round from Hewlett Packard Ventures, Ten Eleven Ventures, and YL Ventures.
According to the registrar of companies, each of the founders owns 12.2%, which will earn them NIS 44 million each before tax. The founders are graduates of the IDF's 8200 Intelligence Unit and previously worked for Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT)
Both Microsoft and Hexadite were unavailable for comment.
Hexadite's cyber security solution helps It staff rate and investigate the cyberattacks that confront them. The software probes alerts identified by the anti-virus and firewall system and rates the urgency with which they should be handled. This is vital in an age when there are growing numbers of alerts. In effect, Hexadite streamlines the threat identification system enabling staff to devote more time to the most serious threats.
Published by Globes [online], Israel business news - www.globes-online.com - on May 24, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017