Temasek buys Israeli cybersecurity co Sygnia

Team8 Photo: London Stock Exchange
Team8 Photo: London Stock Exchange

The Singapore investment company is acquiring the Tel Aviv-based cybersecurity consulting startup.

Singapore investment company Temasek is acquiring Israeli cybersecurity startup Sygnia. No financial details about the acquisition were disclosed but sources close to the deal say it is for about $250 million. Tel Aviv-based Sygnia provides high-end consulting and incident response support for organizations worldwide.

Sygnia says it will maintain its operational independence while pursuing collaborations with Temasek and its portfolio companies. Following the acquisition, Sygnia will expand its resources and its global reach and continue building its capabilities as a world-class provider of cyber consulting and incident response services.

Sygnia works with companies worldwide to proactively build their cyber resilience and defeat attacks within their networks. Since it was founded it has managed numerous heavyweight cyberattacks and has become the trusted advisor of executive managements, boards, and technology teams of top organizations worldwide, including Fortune 100 companies.

The Israeli company works with organizations across a variety of industries, including financial, legal, retail and consumer goods products, information technology, media and entertainment, pharmaceutical, telecommunication, logistics and manufacturing.

Sygnia was founded in 2015 by Team8, the Israeli cybersecurity think-tank and company creation platform and has not received any funding beyond its original seed investment of $4.3 million. Sygnia is the third of four companies launched by Team8.

Sygnia founder and CEO Shachar Levy will continue to lead the company, Nadav Zafrir, former commander of Israel's Intelligence Unit 8200 and CEO of Team8, will remain Chairman, and Ariel Smoler and Ami Kor, both cofounders, will remain in key positions at the company.

Levy said "Aligning with Temasek will strengthen our capability to provide end to end strategic support to organizations in meeting the specter of cyber threats, and allow us to accelerate building our global reach. I am incredibly proud of our team members - who have made this company into what it is. We will remain committed to the highest standards of professional excellence, client focus, decisiveness and speed."

Zafrir added, "Sygnia has built a powerful combination of professional proficiency, methodologies, technologies, and a culture of excellence, which is critically needed in confronting the growing complexity of cyber. Team8 will remain committed to Sygnia's success and we will continue to collaborate and work closely together."

Sygnia applies technological supremacy, digital combat experience, data analytics and a business-driven mindset to cybersecurity, enabling organizations to excel in this digital age. It's a hybrid company, both providing services and developing technologies designed for managing and responding to sophisticated cyber threats.

Sygnia was represented by Advs. Yair Geva, head of HiTech, and Aviram Hazak, Tomer Farkash of Herzog Fox & Neeman law firm. Team8 was represented by Advs. Miri Shalit and Efrat Ziv of Meitar Liquornik, Geva, Leshem, Tal & Co Law Firm and Temasek was represented by Advs. Michael Preston and Johnathan Zou of Cleary Gottlieb together with Ashok J. Chandrasekhar of Goldfarb Seligman law firm.

Published by Globes, Israel business news - - on October 16, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Team8 Photo: London Stock Exchange
Team8 Photo: London Stock Exchange
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