Online payments solutions provider PayPal acquired CyActive, a Tel Aviv, Israel-based predictive cyber security startup,
The amount of the deal was not disclosed but local reports said the sum was approximately $60m.
Launched in 2013 by Liran Tancman and Shlomi Boutnaru, CyActive has developed a solution to secure networks against increasingly complex multi-pronged cyber attacks. It is backed by JVP and the Venture Capital unit of Siemens (read here).
The acquisition, which is still subject to customary closing conditions and is expected to close in early Q2, aims to help PayPal build a security center in Israel and extend the capabilities they have already developed through the Fraud and Risk Detection Center in Tel Aviv.
FinSMEs
20/03/2015