US security solutions company Fortinet (Nasdaq: FTNT) announced today it has completed the acquisition of Israeli cybersecurity company enSilo. No financial details were disclosed but the acquisition was believed to be for tens of millions of dollars. enSilo has raised $57 million to date including a $23 million financing round in July led by Rembrandt venture Partners. Other investors include OG Tech Ventures, Viola, Lightspeed and Carmel.
With offices in Herzliya and San Francisco, enSilo was founded in 2014 by CEO Roy Katmor, CTO Udi Yavo, VP research Tomer Bitton, and VP engineering Ido Kelson. In July, enSilo had 86 employees, including 50 in Israel.
enSilo's information protection platform safeguards end user stations and stops malicious attacks in real time before they occur and while they are taking place, while reducing the time it takes to detect an event and hedging the response costs in the event of an attack. This is achieved through full orchestration of prevention, automatic detection, halting, and taking automatic counter measures against advanced malware and ransomware. The platform can be applied on the cloud or within an organization, and it supports a large number of users.
Katmor said, "Together, enSilo and Fortinet share the commitment to solve customers’ most difficult challenges and to protect the endpoint and their corresponding operations and data. Now, enSilo brings its patented approach for advanced endpoint protection and response to Fortinet and its broad security portfolio."
Fortinet founder, chairman and CEO Ken Xie said, "As businesses become more networked and operations extend from the cloud to the edge and Internet of Things, the digital attack surface has expanded exponentially and has become more complex to secure. Manual threat hunting or point security solutions are ineffective when managing or securing these new environments. Instead security and the network need to be integrated and orchestrated to enable advanced threat containment at network speeds. In acquiring enSilo, we add automated, real-time detection, protection, and response enhancements to our Fortinet Security Fabric to further protect endpoints and corresponding edge data."
Published by Globes, Israel business news - en.globes.co.il - on October 28, 2019
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