Israeli cyber startup looks to acquire the one that OpenAI CEO Sam Altman as investor

Varonis Systems reportedly aims to buy out Apex Security for an estimated $40 million following OpenAI CEO's nterest in  the cybersecurity firm

Meir Orbach/Calcalist|
Israeli cybersecurity company Varonis Systems is in advanced negotiations to acquire Apex Security, another Israeli cybersecurity firm, Ynet's sister outlet Calcalist learned on Wednesday. The deal's estimated value is $30 million – 40 million.
Apex was founded by CEO Matan Derman and VP of Product Tomer Avni, both veterans of IDF intelligence Unit 8200 and recipients of the Israel Defense Prize. The company develops an AI security platform that enables real-time detection, investigation and rapid response to cyberattacks targeting AI systems.
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Apex Security
Apex Security
Apex Security founders Tomer Avni and Matan Derman
(Photo: Ben Hakim)
Apex employs over 20 people and has raised $7 million in seed funding from investors including OpenAI CEO Sam Altman and venture capital firms Sequoia and Index.
Varonis, traded on the NASDAQ with a market cap of approximately $5 billion, was founded in Herzliya in 2004 by Yaki Faitelson and Ohad Korkus. The company, which employs around 2,200 people globally (750 in Israel), focuses on data protection against internal and external threats.
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סם אלטמן
סם אלטמן
Looking for a hidden gem? OpenAI CEO Sam Altman
(Photo: Patrick T. Fallon / AFP)
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Its technology detects suspicious activities, such as unauthorized access to sensitive data, large-scale data exfiltration or unauthorized changes to critical files, while helping organizations comply with data protection regulations.
Apex denied the negotiations while Varonis declined to comment.
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