Israeli cybersecurity company Check Point Software Technologies Ltd. (Nasdaq: CHKP) today announced the acquisition of Israeli cloud-based technology startup Odo Security, which delivers secure remote access. No financial details were disclosed but market sources believe that Odo, which has raised $5 million since it was founded in 2017, was acquired for $30 million.
Odo Security was founded by CEO Or Zilberman, CTO Gilad Steinberg and CPO Noa Shafir. Based in Tel Aviv with 20 employees, investors in the company's only financing round included Magma, TLV Partners and KDC Ventures.
Check Point said that Odo's technology will integrate with Check Point´s Infinity architecture, and become the easiest and most secure solution for enterprises need to enable employees´ secure remote access to any application.
Check Point VP products Dr. Dorit Dor said, "Many organizations find themselves compromising security in order to deliver the connectivity required by their business needs. By incorporating Odo Security’s unique clientless, cloud-delivered secure remote access to our portfolio of threat prevention services, we help organizations overcome this dilemma. Check Point delivers a consolidated solution to help organizations to securely connect any number of remote employees to everything, from any location, making working from home easier and safer than ever."
Odo Security has developed a cloud-based, clientless secure access service edge (SASE) technology that delivers secure remote access. Unlike traditional secure remote access solutions, this technology enables users to easily connect through a unified portal to a wide range of applications. Security administrators can easily deploy the solution in less than five minutes from the cloud and its zero trust architecture defines granular access policy to give the right people in the right context, the least privileged access to applications and reduce the attack surface.
Published by Globes, Israel business news - en.globes.co.il - on September 16, 2020
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