Check Point pays millions for Israeli startup with no product
Cymplify, which established earlier this year, has no product to show yet. However, Check Point announced that its products will be integrated into Infinity
Israeli cyber company Check Point announces Thursday the acquisition of Israeli startup Cymplify. According to Check Point, the acquisition will enable it a ground-breaking on-device IoT security technology to Protect Against 5th and 6th Generation Cyber Attacks.
Based in Tel Aviv Cymplify, established in February this year by CEO Ram Yunish, CTO Yoni Sela, and Gili Jankovic, Research and Development Manager. The company has no product to show yet. However, Check Point announced that Cymplify’s products will be integrated into Check Point’s defense architecture, Infinity.
The terms of the deal were not disclosed. It is believed the acquisition valued at $6 million.
The proliferation of Internet-of-things (IoT) devices in Healthcare, Industrial, Enterprise, and Consumer, and their inherent security weaknesses have created a security blind spot.
With the technology, it is now possible to take an IP camera, a Smart TV, an elevator controller or a medical device such as an infusion pump, and in a rapid manner, harden and protect it against advanced zero-day attacks.
“The 5th and 6th generations of cyber threats are leveraging the growing usage of new and developing platforms, including IoT devices which require extending cybersecurity solutions capabilities,” said Dr. Dorit Dor, VP Products. “Incorporating Cymplify into Check Point’s Infinity architecture will strengthen our ability to reduce our customers’ exposure to the IoT cyber risk, and proactively tackle IoT related threats and vulnerabilities without disrupting critical operations”.
This is the second acquisition of Check Point this year. In early 2019, the company acquired ForceNock a young Israeli startup that eventually integrates into the Infinity Defense architecture.