Palo Alto Networks Inc. (Nasdaq: PANW) is in advanced talks to acquire Cyvera Ltd. for $150-200 million, mostly in shares. Both companies are in the data protection and cyber business. Palo Alto Networks, founded by CTO Nir Zuk, wants to open an Israeli development center on the basis of this acquisition.
Reports about the acquisition appeared in early February, and the talks subsequently picked up and a deal is close. Cyvera declined to comment.
Cyvera was founded in June 2011 by co-CEOs Netanel Davidi and Uri Alter, and Moshe Ben-Abu. The company focuses on cyber threats that traditional information security systems could not deal with, and usually never even identified
Cyvera will be Palo Alto Networks' second acquisition, after acquiring Silicon Valley-based Morta Security in January for an undisclosed sum.
Published by Globes [online], Israel business news - www.globes-online.com - on March 19, 2014
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