Chinese Telecom device maker Huawei has set its eyes on Israel based cloud security firm HexaTier. The company is planning to buy the cloud security company for $42 million USD to set up an R&D center in Israel soon.
As per our sources, the two parties are expected to reach an agreement early next year and after the acquisition, HexaTier is said to retain its name in the market as Huawei HexaTier.
HexaTier offers a smart line of defense to enterprise world to protect data from today’s demanding information security threats. As cloud security concerns are increasing and corporate businesses are showing a lot of interest in cloud security solutions, HexaTier is offering a combination of innovation and comprehensive database security in its compliance solutions.
Founded in 2009, HexaTier currently offers database security, database activity monitoring and Dynamic Data masking features through its product-line.
HexaTier’s latest Unified Database Security suite operates on the cloud and on-premises giving its customers a hybrid security advantage.
It is believed that the 40 employees of HexaTier will go onto the rolls of
Huawei and the company has gained USD 14.5 million in investments so far. Its major Investors include Magma, Rhodium, and JVP- all Israel-based companies.
HexaTier has headquarters in Bnei Berak, Israel and has also branch offices located in Massachusetts and California.
Huawei is a globally renowned Chinese networking and telecommunication equipment and service brand. It plans to set up a cloud database research and development center in March 2017 in Israel via HexaTier.
Neither Huawei nor HexaTier is denying or accepting this news. But sources close to the HexaTier board have confirmed that the deal has already taken place in September and will be finalized through paperwork in next couple of months.