Conglomerate Access Industries has exited Israel-based cybersecurity software developer LightCyber through a $105m acquisition by cybersecurity technology provider Palo Alto Networks.
LightCyber has built automated behavioural analytics software that uses machine learning to detect and identify cyberattacks by seeking out behavioural anomalies in a client’s network. Palo Alto intends to add the technology to its Next-Generation Security Platform by the end of 2017.
Mark McLaughlin, chairman and CEO of Palo Alto Networks, said: “The LightCyber team’s vision to bring automation and machine learning to bear in addressing the very difficult task of identifying otherwise undetected and often very sophisticated attacks inside the network is well-aligned with our platform approach.
“This technology will complement the existing automated threat prevention capabilities of our platform to help organisations not only improve but also scale their security protections to prevent cyber breaches.”
LightCyber had raised $31m in funding since it was founded in 2012, $20m of which came from a June 2016 round co-led by ClalTech, an Israeli subsidiary of Access, and entrepreneur Shlomo Kramer, which included Amplify Partners, Battery Ventures and Glilot Capital Partners.