US data security company Rubrik has announced it has signed an agreement to acquire Israeli data security posture management (DSPM) platform Laminar. No financial details were disclosed but sources told "TechCrunch" that the deal could be worth $200-250 million.
Tel Aviv-based Laminar was founded by CEO Amit Shaked and CTO Oran Avraham and has raised $67 million according to Start-Up Nation Central. The company has developed a cloud-native data protection platform for organizations that process sensitive data in a public cloud environment. It delivers complete data observability across the entire cloud stack. Investors include Tiger Global, Insight Partners, Salesforce, TLV Partners, SentinelOne, and Meron Capital.
Rubrik chief business officer Mike Tornincasa said, "Rubrik and Laminar share a common vision that cyber resilience is the next frontier in data security. Laminar’s technology, ability to execute, and vision make it a perfect complement to our strategy and innovative roadmap. Together, our teams will create an integrated offering that gives customers the benefits of cyber recovery and cyber posture capabilities, and positions them to be resilient in their fight against cyberattacks."
Shaked added, "There is a dark side to digital transformation in the form of shadow IT, and more businesses are realizing they can’t protect against what they can’t see leaving them vulnerable to cyberattacks. We have found synergy with Rubrik, a company that cares just as deeply about ensuring that customers are prepared against the inevitable. The combination of cyber posture and cyber recovery will help create a cyber-resilient future where organizations can take on any threat, at any stage of the attack."
"TechCrunch" reports that Laminar will become Rubrik's Israel R&D center.
Published by Globes, Israel business news - en.globes.co.il - on August 9, 2023.
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