Microsoft on Monday announced plans to acquire Israel-based cloud security company Adallom for $320 million. The Israeli business publications Calcalist and Globes reported on Monday. In addition, the Redmond-based software maker is also planning to open a cyber security facility in Israel and used some of the local talents it has acquired.
If done, Adallom would be Microsoft's fourth acquisition in Israel since the start of 2015. Adallom is also the software company's biggest-ever acquisition in Israel.
Headquartered in Palo Alto, California, Adallom provides cloud security platform for securing coud-based applications. It offered its cloud-based platform to customers using cloud-based applications (Microsoft Office 365, Salesforce, ServiceNow and Google Apps).
Founded in 2012 by CEO Adam Rappaport, Ami Luttwak and Roy Reznik, graduates of Israel's IDF technology units. Currently, the company has 80 employees at its office in Palo Alto and Israel. Adallom has raised $49.5 million to date, backers include Rembrandt Fund, Sequoia Capital, European Index Ventures, EMC and HP Capital. Competitors include Elastica and Skyhigh Networks.
Microsoft is not new to Israel tech space, the software giant has been active in the Israel tech space for some time. Last year, it snatched cloud security startup Aorato. And In May, it acquired the pen technology of N-trig.
Image Credit: Reuters
Wednesday, July 22, 2015
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