Sygnia, an Israeli based cybersecurity startup will soon be acquired by Singaporean firm Temasek for $250 million and the news was confirmed by a spokesperson from Temasek which happens to one of the world’s biggest investors.
The latter’s plan is to beef up its cybersecurity business by capturing the market of the former which is known to built technology and services to help large business entities respond to cyber threats.
Note- After the deal, Sygnia will be allowed to operate as an independent entity by Temasek.
Readers of Cybersecurity Insiders have to notify a fact over here that the acquisition highlights the growing significance for cybersecurity to investors around the world. As Israel happens to be a powerhouse to security businesses, companies from around the world are thronging to grab the top-notch cybersecurity talent in order to carve a niche for themselves in the ever-evolving business in cyber landscape.
Coming to Sygnia’s journey in business, founded in 2015 the company came out of stealth only a year ago. The company has focused on cybersecurity consulting and response to complex and sophisticated cyber attacks. In the past couple of years, the company has made a mark in cybersecurity business by developing a reputation for speed and decisiveness in responding to attacks and helping Fortune 100 companies build their cyber resilience.
Since Sygnia has proved that it has exceptional capabilities and a proven record to raise organizations from cyber massacres, Temasek is hoping to use the reputation to meet its business objective of challenging cyber security to economic prosperity and national security.