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.
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.
Get the Ynetnews app on your smartphone: Google Play: https://bit.ly/4eJ37pE | Apple App Store: https://bit.ly/3ZL7iNv
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.