Israeli cybersecurity risk management company Orchestra Group has announced the acquisition of Netformx, innovative solutions to simplify IT sales complexity and increase seller profitability. Orchestra was founded in 2018 by CEO Omri Lavie, COO Isaac Zack and CTO Dr. Jacob Ukelson. This is already the company's third acquisition. No financial details about the acquisition were disclosed.
Netformx, which was founded in 1994, specializes in enabling IT integrators, managed service providers (MSP’s and MSSP’s) in network discovery, and design while expanding to profitability optimization. The deep technology developed by Netformx allows its customers to be much more profitable in designing and configuring networks. Netformx works primarily with giants such as Cisco and their business partners. Netformx has thousands of users worldwide and among them major companies such as AT&T, Bell Canada, Insight, Logicalis, Optus and Telstra. Netformx has 40 employees including its development center in Israel, executive offices in San Jose, California and offices in Australia and the United Kingdom.
Orchestra said that its synergy with Netformx lies in Orchestra’s vision to provide a holistic cyber risk management and operations platform through discovery, analysis, artificial intelligence, and automation. Orchestra's platform analyzes an organization's assets, controls, access, and connectivity using its proprietary cyber threat knowledgebase and reasoning AI to create automatic, fact based, explainable attack scenarios and calculates their risk. Orchestra’s AI recommends mitigations and provides an actionable, prioritized cyber risk resilience blueprint for the organization. This provides a roadmap to reduce an organization's aggregate cyber risk from the ever-changing cyber threat landscape, all in accordance with the organization's compliance needs and policy requirements.
The acquisition of Netformx will allow Orchestra to deepen its analysis of networks to find network infrastructure and connectivity issues and vulnerabilities. Netformx network analysis, discovery, and configuration technology, as well as its catalogue and configuration capabilities complete a significant part of Orchestra’s holistic cyber security platform puzzle. Moreover, Netformx IT Solution provides customers, along with their end-customers, benefits from Orchestra’s solution. Many Netformx customers are MSPs that provide a variety of network and other technical services to their customers, strengthening the synergy between the two companies. The acquisition of Netformx will also allow Orchestra to further expand its North American customer base, as well as expand the capabilities of Netformx products for its existing and new customers.
Orchestra's previous two acquisitions were Israeli startups CyIoT and Cronus.
Lavie said, "We believe that the synergies will enable us to accelerate the development of our advanced risk technologies and our expansion to a global audience."
Netformx CEO Ittai Bareket said, "Netformx is excited about joining the Orchestra Group to expand our discovery capabilities to support cyber security and cyber risk. We will continue to support Cisco partners and help them maximize profitability with the help of Cisco programs while integrating cyber security capabilities into our customer success management platform. In addition, we will expand our product portfolio to end customers and allow them to plan a safer and more profitable future."
Published by Globes, Israel business news - en.globes.co.il - on December 12, 2021.
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