Temasek has reportedly agreed a $250m deal to buy Israeli cybersecurity technology and services provider Sygnia.
The company said it be acquired by the Singapore-based investment firm for an undisclosed amount. However, the deal is expected to be priced at $250m according to Reuters, which cited a source with knowledge of the deal.
Launched in 2015, Sygnia works with organisations to proactively build their cyber resilience and to respond and defeat attacks within their networks. The company, which has offices in Tel Aviv and New York, it is a trusted advisor and service provider of IT and security teams, senior managements and boards of top organizations, including Fortune 100 companies.
Following the deal, it is expected to maintain its operational independence while pursuing collaborations with Temasek and its portfolio companies.
Founder and CEO , Shachar Levy, will continue to head the company and Nadav Zafrir, former commander of Israel’s intelligence unit 8200 and CEO of Team8, will remain chairman.
Sygnia came out of stealth less than a year ago, after being incubated by Team8, a cybersecurity think-tank and company creation platform. The business is the third of four companies launched by Team8.
Earlier this year, RegTech Analyst reported that Team 8 is looking to raise up to $85m for its new venture capital fund.
Following their experience in the Israeli Defense Force’s intelligence unit 8200 and their work in the private sector, Nadav Zafrir, Israel Grimberg, and Liran Grinberg co-founded the business in 2015. Team8 launched following a $18m Series, with capital coming from Alcatel-Lucent, Cisco Investments, Marker LLC, Bessemer Venture Partners (BVP) and Innovation Endeavors.
Its mission is to develop disruptive companies ‘that challenge the biggest problems in cybersecurity and give organisations the advantage over cyber attackers’ according to its website.
Copyright © 2018 FinTech Global