Israel’s Illusive snapped up by US Cyber company Proofpoint
Illusive Networks has entered into an agreement to be bought by Proofpoint of the U.S. Financial details of the transaction were not disclosed but the deal value is estimated at USD 100-150 million, according to a report in the Hebrew press.
Illusive is a developer of deception technology used to detect targeted hacker attacks.
Meitar advised XXX, with the transaction led by Keren Sadeh Mizrahi, Efrat Ziv, Mike Rimon, Dorin Pendus.
Read more in the TOI.
The acquisition comes amid a global increase in cyberattacks on enterprises as hackers are shifting their tactics and focus to identity-based attacks, Sunnyvale, California-based Proofpoint remarked – and, as we referenced last week, according to industry experts, the cost of cybercrime worldwide will increase by 15% annually in the next five years, and by 2025 that cost will reach USD 10.5 trillion per year.
