Tenable confirms acquisition of Israeli cloud security co Ermetic

Ermetic founders credit: Eyal Izhar
Ermetic founders credit: Eyal Izhar

The US cybersecurity company will pay $265 million for the cloud-native application protection platform.

US cybersecurity company Tenable (Nasdaq: TENB) today announced that it has signed a definitive agreement to acquire Israeli cloud security company Ermetic for $265 million - $240 million in cash and $25 million in shares. "Globes" reported on Tuesday that the two companies were in the advanced stages of negotiations. The acquisition is expected to close early in the fourth quarter 2023,

Ermetic has developed a fully integrated cloud-native application protection platform, and provides cloud infrastructure entitlement management. Tenable says it will integrate these capabilities into its One Exposure Management Platform to deliver contextual risk visibility, prioritization and remediation across infrastructure and identities, both on-premises and in the cloud.

Ermetic, which was founded in 2019 by CEO Shai Morag, Sivan Krigsman, Arick Goomanovsky and Michael Dolinsky, was placed second in "Globes" top ten most promising startups for 2022. The company has raised $97 million to date and has 140 employees, including 80 in Israel, according to IVC Research. Investors in Ermetic include Glilot Capital Partners, Qumra Capital, Target Global, and Accel.

Tenable chairman and CEO Amit Yoran said, "We will have an opportunity to put additional market-leading cloud security capabilities into the hands of tens of thousands of customers. Together, we will be able to deliver a holistic view of the modern attack surface and help organizations reduce exposure

Morag said, "The combination of Tenable’s rich exposure management data and Ermetic’s cloud solutions will provide unprecedented levels of actionable visibility and value. It will remove the complexity that makes managing cloud environments so challenging. Tenable’s massive install base of customers will enable us to introduce more organizations to the benefits of context-aware risk prioritization to solve problems before they manifest."

Published by Globes, Israel business news - en.globes.co.il - on September 7, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

Ermetic founders credit: Eyal Izhar
Ermetic founders credit: Eyal Izhar
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