In its most recent financing round in June 2021, the cloud security company had a valuation of $46 million, according to PitchBook.
US digital communications giant Cisco Systems (Nasdaq: CSCO) is set to announce that it is acquiring Israeli startup Lightspin for an estimated $200 million. Lightspin has developed a cloud security platform and competes with Israeli startups Wiz, Orca Security and Aqua Security. In its most recent financing round in June 2021, funds were raised at a company valuation of $46 million, according to PitchBook.
Lightspin was founded by CEO Vladi Sandler and CTO Or Azarzar. Others who will profit from the acquisition are Michael Dell’s venture capital fund Dell Technologies Capital represented in Israel by Yair Snir and Ibex Investors LLC led by Nicole Priel and Gal Gitter.
This is Cisco’s first acquisition in Israel since 2021, when it acquired cloud security companies Epsagon and Sedona Networks. Over the past 20 years the US giant has made many acquisition in Israel in network switches and hardware and in recent years has expanded its acquisitions to cybersecurity and cloud security and expanded its Tel Aviv office. Cisco Israel recently 200 employees in Tel Aviv from previous acquisitions, including Leaba Semiconductor, CloudLock and Portshift to two floors in the new Midtown building.
Published by Globes, Israel business news – en.globes.co.il – on March 29, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Lightspin founders credit: Lihi Binyamini
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