image credit : Mi3

Just recently, Mountain View based cloud cyber-security company Mi3 was snapped up by mobile security technology company Zimperium which marks the first acquisition for the company which has raised a total of $60 million from several notable investors including Samsung, Warbug Pincus, Sierra Ventures and Softbank amongst others.

With this acquisition, Zimperium is adding an important and major resource to its pool of operations as Mi3’s RECON Security Platform which provides in-depth application monitoring and threat analysis will be incorporated into Zimperium’s z3A app analysis platform to provide better and wider intelligent services for its users.

Zimperium which is based in San Francisco and was founded in 2010 by two hackers and security experts raised its most previous round of funding March last year and is currently fixated on growth and the offering of its services to more users, enterprises and various consumers and it makes absolute sense that the company sees an acquisition of Mi3 as a good move to do this.

Mi3 was founded 5 years ago and has raised $550 thousand in convertible notes prior to this acquisition for which the price hasn’t been disclosed yet.

On the acquisition, Mi3’s co-founder and CEO Kevin Mullenex can be quoted in an official statement saying “From the initial partnership discussion through today, Zimperium has been a key strategic partner and we look forward to combining our teams and efforts to bring even more innovative application security solutions to the market” which indicates very good satisfaction with the startup’s acquisition. 

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