Mivtach-Shamir Food Industries Ltd. (TASE:SHAM), under the ownership of Meir Shamir is investing $ 7 million in “wunderkind” Nir Gaist’s information security company Nyotron. Mivtach Shamir will hold 23.3% of the issued and redeemed Nyotron share equity, fully diluted. Nyotron’s existing investors have committed to invest an additional $3 million in the cyber-security company.
Nyotron has developed a cyberwar format called Paranoid for protection against new, sophisticated cyber-attacks, on a national level, even if there no information about them exists. The system includes technology that conducts behavior analysis on computer activity in real time, using a new programming language that was developed to make it possible to map the computer’s activity. In this manner, Paranoid is able to distinguish between activities being carried out by a legitimate program or user, and threatening activities being carried out by viruses, Trojan horses, or cyber attackers.
Nyotron was established by 26-year-old cyber-warfare and information-security expert Nir Gaist. From a young age, Gaist served as an information-security consultant for most of the big banks in Israel, and for years operated as a “legal hacker,” breaking into sensitive systems to assess their vulnerabilities. Today, he serves as Nyotron CEO, alongside board chairman Maj. Gen. (ret.) Amos Malka (former IDF Director of Defense Intelligence), who is also an investor.
The company’s program identifies threats to the operating system on which it is installed in real time, by using “behavioral analysis,” and warns of their existence, even before they have been activated.
Gaist said, “I am happy that Mivtach Shamir has joined Nyotron and I see in them a full, significant partner in realizing Nyotron’s dream to change the conception of cyber-warfare. I am certain that the partnership with Mivtach Shamir, along with the extensive and varied experience that Meir Shamir brings with him, will contribute greatly to us. It is already clear today that the existing solutions on the market do not provide a sufficient answer to the growing problem of cyber-attacks. I have no doubt that Paranoid offers an innovative solution that is able to prevent cyber-attacks of all kinds.”
Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2015
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