Network security software producer Palo Alto Networks agreed on Tuesday to acquire Secdo, an Israel-based cybersecurity technology provider backed by corporate joint venture Rafael Development Corporation (RDC).
Palo Alto will pay approximately $100m for the company, a person familiar with the deal told Calcalist.
Founded in 2014, Secdo has built a software platform that detects cyber threats and identifies how exactly a device was compromised, providing IT staff with granular tools to respond to attacks without impacting users.
Secdo’s engineers will join Palo Alto Networks, which will integrate the technology into its Traps cybersecurity platform in order to enhance the product’s capabilities and improve its suite of tools.
RDC, is the technology commercialisation arm of weapons technology provider Rafael Advanced Defence Systems formed in partnership with technology holding group Elron Electronic Industries. It co-led a $10m series A round for Secdo in 2016 with private investor Marius Nacht.
The round also featured angel investors Ariel Maislos, Ehud Weinstein and Ofir Shalvi, who, along with Nacht, had previously supplied Secdo with $3m in seed funding.