Israel’s cyber security arena got a boost of confidence today with reports of PayPal purchasing the Beersheva-based CyActive company for at least $60 million.
Globes broke the story of the online payments company’s second Israeli acquisition, citing the deal is set to close shortly.
Calcalist financial daily said the acquisition of the predictive cyber security company is somewhere between $60 million to $80 million.
CyActive was founded in 2013. It says it can predict and prevent future malware by analyzing past attacks.
“When an organization experiences an attack, a security measure is placed in order to block it. However, the hacker can then simply make a slight modification to the original code to evade the security measures. These variants form a never-ending cat and mouse game between hackers and defenders. When you look at the APT (advanced persistent threat) level, you’ll find there has never been an attack chain to date that did not contain at least one reused component,” Danny Lev, CyActive’s chief marketing officer, told Engerati at the Smart Energy UK & Europe Summit 2015. “Of the new malwares, 98 percent are ‘direct descendants’ or variants of old versions, and of the remaining 2%, 1.99% are ‘cousins’ that share modules and methods.”
PayPal bought Israeli company, FraudSciences, in 2008 for $169 million.
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