Check Point Software snaps up Israeli cyber start-up, Spectral
Categories: Corporate and M&A, Hi-Tech
Check Point Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, has bought Spectral, an Israeli startup and key innovator in developer-first security tools designed by developers for developers.
Spectral had raised USD 6.2 million in funding since its founding in 2020, and brings 20 employees.
The Naschitz Brandes Amir team representing Check Point in the USD 60 million acquisition is led by partners Anat Igner and Tuvia Geffen, and associates Noam Shualy, Tal Shachar,Amit Itach, and Orel Yacobi.
Erdinast, Ben Nathan, Toledano & Co. with Hamburger Evron advised the investors Amiti and Mizmaa, with partner Roy Caner and associate Oded Natan from the firm’s Corporate and M&A Department acting in the transaction.
The acquisition is the latest instance of consolidation in the market for cloud-native application security solutions. It’s become a fast-growing area, amid the shift to cloud-native development using containers and microservices and concerns about the security of software supply chains. Along with high-profile incidents such as the SolarWinds breach, attacks involving software supply chains surged by more than 300% in 2021, Aqua Security reported.
