US-based Tenable Inc. has bought Israeli cybersecurity company Indegy, and will open an Israeli development center on the basis of the acquisition. Tenable said that the acquisition price was $78 million cash, and that additional costs amounting to $15-17 million relating to acquired intellectual property and other transaction costs would be transferred to Indegy's shareholders. Sources close to the company say that further consideration payable will bring the total amount to $120 million. Since it was founded, Indegy has raised $36 million.
Indegy was founded in 2014 by its CEO Barak Perelman, Mille Gandelsman, and Ido-Trivizki, all three of them ex-Talpiot, a technology development program of the IDF. The first investors in the company were Shlomo Kramer and venture capital firm Magma. They were later joined by Vertex Ventures and Eyal Ofer's technology investment firm OG Tech. Among other investors in the company are General (ret.) David H. Petraeus, a former director of the CIA, and General (res.) Amos Yadlin. The company employs 65 people, most of them in Israel.
Indegy is a developer of cybersecurity technologies for critical infrastructures such as power production and water supply, and for industries such as the pharmaceuticals and chemicals industries, where the main object is to ensure that there will be no infiltration that might affect production lines, change the chemical composition of drugs, disrupt power supply to data centers, and so on.
Tenable is a cybersecurity company that has been listed on Nasdaq for eighteen months and has a market cap of $2.6 billion. It was founded in Maryland in 2002, and meploys more than 1,200 people.
"The combination of Tenable and Indegy brings together two pioneers of IT vulnerability management and industrial cybersecurity to deliver the industry’s first unified, risk-based view of IT and OT security," said Tenable chairman and CEO Amit Yoran.
Published by Globes, Israel business news - en.globes.co.il - on December 3, 2019
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