Cisco CEO Chuck Robbins. Photograph by Stuart Isett/Fortune, under Creative Commons license

Networking giant Cisco has announced that it’s reached a deal to acquire Portshift, a cybersecurity startup based in Israel that was founded only two years ago. Financial terms of the deal weren’t formally disclosed, but a report from Israeli newspaper Globes pegs the acquisition price at around $100 million. As a privately-held startup, Portshift has raised $5.3 million in known funding (Crunchbase data). The cybersecurity startup was founded out of Team8, an Israeli startup accelerator that may be best known for scoring a win when one of its incumbents, cybersecurity company Sygnia, sold to Singapore’s Temasek for $250 million in 2018.  

Portshift currently has just about 15 employees, who will all become housed under Cisco’s Emerging Technologies and Incubation division following the completion of the acquisition. Among the employees that Cisco will be getting include Portshift’s founders by the names of Ran Ilany (CEO), himself a cybersecurity veteran who before founding Portshift was an executive at Israeli cybersecurity company Check Point Technologies; and Zohar Kaufman (CTO), who previously co-founded CTERA Networks, another Israeli cybersecurity company.

Portshift is a Kubernetes-native security platform that enables software developers and teams to secure applications. Cisco will presumably integrate Portshift into its large suite of networking and cloud security services following the completion of its acquisition.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print