US digital platform engineering company EPAM Services Inc. (NYSE: EPAM) has announced that it is acquiring Israeli cybersecurity company White-Hat. No financial details about the deal were disclosed but market sources believe the acquisition is for about $50 million in cash and shares. The only shareholder in the company is chairman Sharon Nimirovski, who will continue to lead the company after the acquisition together with CEO Ofer Levinger.
White-Hat, which has been involved in some of the high profile cybersecurity crises in Israel in recent years, was founded in 2013 by Nimirovski and has 65 employees in Tel Aviv.
White-Hat handles some of the most sophisticated attacks in the world for government, banking, insurance, aerospace and energy organizations. The company's research-based incident response toolsets and methodologies are based on attack being the best form of defense, and are able to rapidly bring an organization to a full understanding of what happened and how to contain, eradicate and recover, leaving them prepared to respond to the next attack. Services include Eye of the Enemy to optimize a company's defensive strategy, incident response, threat hunting, global cyber intelligence, Security Operation Center (SOC), Advanced Persistence Threat (APT) and Penetration Test (PT).
Levinger said, ""We are excited about this new chapter for our organization. By joining EPAM our employees will have an opportunity to work with many of the world's leading brands and our customer will gain access to end-to-end digital transformation and platform engineering services. We are ready to combine our cybersecurity know-how and bring new, innovative solutions to market. Our expertise in Incident Response and Threat Hunting will allow us to rapidly enhance EPAM's Offensive Security approaches to address the needs of the modern digital enterprise."
EPAM Systems chief information security officer and head of cybersecurity Sam Rehman said, "We're pleased to welcome White-Hat to the EPAM family. Adding their expertise, methodologies, and team of talented professionals will help our clients design cybersecurity into their applications, at agile speed and cloud scale, while advancing towards zero trust architecture. As organizations modernize their architectures and applications, their devices, users, applications, and networks become potential breach points, making it imperative to secure infrastructure and protect sensitive data. We've increased our cybersecurity investments, because security should be as pervasive as the cloud."
Published by Globes, Israel business news - en.globes.co.il - on May 4, 2021
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