Cellebrite buys Israeli digital intelligence co Digital Clues

Yossi Carmil and Yossi Ofek Photo: Shay Shviro

Petah Tikva-based Cellebrite is spending tens of millions of the $370 million it raised in its SPAC merger last month.

Israeli digital intelligence company Cellebrite (Nasdaq: CLBT) has announced that it is acquiring Israeli digital intelligence tools company Digital Clues, which was founded by Israeli entrepreneur Mati Kochavi. No financial details about the acquisition were disclosed but market sources believe it is for tens of millions of dollars.

Based in Petah Tikva, Cellebrite provides solutions for retrieving information from electronic devices and analyzing the data. Cellebrite is spending some of the money $370 million it raised last month when it completed a SPAC merger at a company valuation of $2.4 billion. Since being listed on Wall Street, Cellebrite's share value has lost 20% and it currently has a market cap of $1.9 billion.

Cellebrite said, "The acquisition strengthens Cellebrite's market-leading digital intelligence platform, reinforces our position as the end-to-end technology partner capable of digitizing the entire investigative workflow, and is expected to aid in growing the company's footprint within law enforcement intelligence and investigation units across the globe."

Cellebrite added, "The start of an investigation is time-sensitive, and information must be gathered as quickly as possible. Digital Clues' open-source intelligence solutions kickstart law enforcement intelligence and investigation efforts when there are no targets and very few clues, helping customers collect and connect data from many dynamic sources including the surface web, deep web, and dark web.

"Their solutions enable the collection of large amounts of data from various sources, leveraging artificial intelligence to draw valuable insights on suspected persons or entities, while enriching other digital evidence with valuable information from open sources."

Digiotal Clues has 20 employees and its solutions are available as an SaaS in the cloud.

Cellebrite CEO Yossi Carmil said, "We are pleased to announce this acquisition, an important step in executing against our vision of building a leading end-to-end investigative Digital Intelligence platform. Open-source intelligence capabilities provide law enforcement agencies with critical tools to capitalize on those crucial early hours of an investigation. The team at Digital Clues has built up a strong reputation in this space and we look forward to welcoming them into the Cellebrite family." Digital Clues chairman and CEO Yossi Ofek will lead the open-source intelligence business efforts at Cellebrite. He said, "The demand for cloud-based and on-premises open-source intelligence solutions is driven by the increasing need for automated systems to help public safety agencies sift through the tidal wave of information hosted on the web. We share Cellebrite's commitment to accelerate justice and are excited about combining Digital Clues' capabilities with Cellebrite's world-leading and comprehensive Digital Intelligence platform."

Published by Globes, Israel business news - en.globes.co.il - on October 11, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Yossi Carmil and Yossi Ofek Photo: Shay Shviro
Yossi Carmil and Yossi Ofek Photo: Shay Shviro
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