Content delivery network services provider Akamai Technologies agreed on Wednesday to buy Israel-based cybersecurity technology developer Guardicore for about $600m, providing exits for corporates Deutsche Telekom, Access Industries, Dell and Cisco.
Founded in 2013, Guardicore operates an online security software platform that helps businesses to manage and protect data held in cloud-based, hybrid or traditional digital infrastructure. The company’s platform can also protect against and address ransomware attacks.
Guardicore is expected to add about $30m to $35m in revenue to Akamai’s books for the 2022 fiscal year.
Tom Leighton, Akamai’s co-founder and chief executive officer, said: “By adding Guardicore’s leading micro-segmentation products to Akamai’s comprehensive portfolio of zero trust solutions, we believe Akamai will be able to provide the most effective way to combat ransomware on the market today.”
The company had raised $108m prior to the announcement. It received $60m in a mid-2019 series C round led by Qumra Capital and backed by Deutsche Telekom Capital Partners and ClalTech, on behalf of telecommunications group Deutsche Telekom and conglomerate Access Industries respectively.
Partech Ventures, Battery Ventures, 83North, TPG Growth and Greenfield Partners filled out the list of series C participants.
Guardicore had picked up $35m in a series B round in 2017 that included Dell Technologies Capital and Cisco Investments, respective vehicles for computing technology producers Dell and Cisco, as well as TPG Growth, Greenfield Partners and existing investors Battery Ventures and 83North.