Security analytics technology provider Rapid7 has bought Israel-based networking security technology developer Alcide for $50m, allowing semiconductor technology producer Intel and holding company Elron Electronic Industries to exit, Globes reported yesterday.
Elron had reported to the Tel Aviv Stock Exchange that it held a 24% stake in the business and would receive $12m from the deal.
Founded in 2016, Alcide provides an end-to-end security platform for cloud infrastructure based on Kubernetes, an open-source system used to automatically manage containerised applications.
Alcide will now serve as Rapid7’s Israel-based development centre, and has received an undisclosed amount of funding to expand those facilities. It will shut down its independent marketing and sales operations as part of the acquisition but will retain most of its staff.
Intel’s corporate venture capital unit, Intel Capital, participated in a $5.2m seed round for the company in 2017 alongside Elron Electronic Industries. The two then joined CE Ventures in Alcide’s $7m series A round the following year.