Singapore-based investment company Temasek has acquired Israeli cybersecurity consulting startup Sygnia. Though the financial terms of the deal were not disclosed but a news reports quoting a source familiar with the transaction said it is worth $250 million.
The start-up said that it will maintain its operational independence while collaborating with Temasek and its portfolio companies. Founder and CEO Shachar Levy will remain at the helm of the company.
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“Aligning with Temasek will strengthen our capability to provide end to end strategic support to organizations in meeting the specter of cyber threats, and allow us to accelerate building our global reach,” Levy said in a statement.
Founded in 2015, Sygnia came out of stealth only a year ago. Unlike most other cybersecurity startups which develop specific cybersecurity products, Sygnia has focused on cybersecurity consulting and response to complex and sophisticated cyber attacks.
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Sygnia helps clients build cyber resilience against growing security threats. For example, the start-up implements a service that simulates massive cyberattack scenarios to stress test networks and critical assets for companies. That allows decision makers to understand how such attacks occur in real time, to identify vulnerabilities within the company and to strengthen their security.
It will continue to operate independently and its leadership team, including Founder and CEO Shachar Levy and Chairman Nadav Zafrir, will remain at their respective roles, as well as co-founders Ariel Smoler and Ami Kor.
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