Ra’anana-based cybersecurity firm Secdo has agreed to a $100 million acquisition deal with U.S. cybersecurity firm Palo Alto Networks.
Sources at Secdo told the Globes business news service the payment will be handed over mostly in cash, but also in shares.
Secdo was founded in 2015 by CEO Shai Morag and CTO Gil Barak, both graduates of the IDF 8200 intelligence unit.
The company’s platform provides Next-Generation Incident Response solutions to cyber attacks. Amir Kotler is president and COO.
“We are delighted to join the Palo Alto Networks team,” Morag said. “The combined capabilities of Secdo and Palo Alto Networks will provide customers the capabilities they need to swiftly and accurately detect and respond to cyber attacks.”
Palo Alto Networks chairman and CEO Mark McLaughlin added,“With Secdo’s EDR capabilities as part of our platform, we will accelerate our ability to detect and prevent successful cyber attacks across cloud, endpoint, and the network.”