Israeli network intelligence and security solutions company Allot Communications Ltd. (Nasdaq:ALLT; TASE: ALLT) announced today that it has signed a definitive agreement to acquire Israeli startup Netonomy Ltd., which develops software-based cybersecurity for the connected home.
No financial details were disclosed but Allot said that the consideration to be paid will not have a material impact on Allot's financial situation. Allot expects closing to take place in a very short period.
Allot said that the acquisition is in line with its strategy of providing Communications Service Providers (CSPs) with comprehensive security solutions for their customers. As the adoption of IoT and connected devices at home continues to grow rapidly, it is becoming increasingly difficult to manage and prevent security breaches on these devices. Netonomy's technology integrates a unique software component onto existing routers, enabling device management as well as a variety of protective security functionality on those devices.
Allot's leading mobile protection solutions are already deployed widely by CSPs to protect their mobile customers. Leveraging Netonomy's technology in concert with Allot's solutions will provide CSPs the ability to offer comprehensive and seamless security to the consumer anywhere, anytime.
Allot president and CEO Erez Antebi said, "Allot continues to invest in leading network-based security capabilities to empower CSPs to offer value added security services to consumers and businesses. This acquisition complements our developments in security by adding advanced home router protection capabilities, which are critical in the IoT security value chain."
Published by Globes [online], Israel business news - www.globes-online.com - on January 16, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018