NEW YORK (The Deal) -- Palo Alto Networks Inc. (PANW - Get Report) said Monday it would acquire Israel's Cyvera for $200 million, adding tools to its arsenal of products designed to protect against cyber attacks.
Tel-Aviv-based Cyvera makes tools to combat zero-day vulnerabilities: attacks that exploit a previously unknown weakness in a software product or network. The company, which employs 55, makes products that create obstacles designed to stop or slow down malware enough that IT professionals have time to address weaknesses as they are discovered and minimize damage.
Mark McLaughlin, CEO of the buyer, in a statement called the purchase "a key milestone in our strategic enterprise security vision," saying the purchase extends Palo Alto's security platform.
"It enables us to accelerate the delivery of the market's only highly integrated and automated enterprise security platform spanning network, endpoints, and the cloud," McLaughlin said. "For customers, this translates into the most sophisticated and automated threat prevention for their entire organization."The cybersecurity market has had its share of M&A activity, headlined by Cisco Systems' (CSCO - Get Report) $2.7 billion deal for Sourcefire last year and FireEye's (FEYE - Get Report) early January deal to acquire Mandiant for $1 billion. Santa Clara, Calif.-based Palo Alto has been active as well, announcing plans in January to buy Morta Security for an undisclosed sum. Cyvera has raised at least $13 million in venture financing, including an $11 million round completed in August 2013 led by Battery Ventures. Co-founders Uri Alter and Netanel Davidi in a statement said, "We are pleased to join the Palo Alto Networks team and together help enterprise customers tackle the advanced threats they face today."