American cybersecurity giant Symantec has announced the acquisition of Israel’s Luminate Security, a privately held company whose Secure Access Cloud technology is being added into Symantec’s Integrated Cyber Defense Platform for enhanced protection against sophisticated threats and attacks.
The official Symantec announcement did not provide financial details, but Globes reports that its sources estimate the deal at about $200 million.
More than 50 million users rely on Symantec’s Norton and LifeLock product suites to protect their digital lives at home and across their devices, according to the California-based company.
Headquartered in Tel Aviv with an office in Silicon Valley, Luminate was founded in 2017 and was named a 2018 Gartner Cool Vendor in cloud security.
“Now and in the future, we anticipate more and more corporations will operate their business on infrastructure that is managed by multiple third parties such as Azure, AWS and Google,” said Greg Clark, president and CEO, Symantec.
“In this rapidly evolving world, trust in external infrastructure must be carefully considered as corporations can outsource infrastructure but must also remain responsible for data and users. Luminate incorporated into Symantec’s Integrated Cyber Defense puts us at the forefront of security in the cloud era.”
Luminate is the third Israeli company acquired by Symantec in the past year and a half. Skycure and Fireglass were both bought out in July 2017 for $250 million each, while Javelin Networks was acquired for $30 million in November 2018.