Israeli cyber security firm Cato Networks buys Aim Security, raises another $50 million

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Israeli cyber security firm Cato Networks said on Wednesday it was buying cyber startup Aim Security, its first ever acquisition, and raising another $50 million in a private funding round.

Cato also said it had surpassed $300 million in annual recurring revenue.

It did not disclose how much it was paying for Aim but sources close to the deal said it was around $350 million.

Cato in June raised $359 million in a funding round, valuing the cybersecurity firm at more than $4.8 billion, as investors bet on growing demand for artificial intelligence-driven…



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Israeli cyber security firm Cato Networks buys Aim Security, raises another $50 million



Israeli cyber security firm Cato Networks said on Wednesday it was buying cyber startup Aim Security, its first ever acquisition, and raising another $50 million in a private funding round.

Cato also said it had surpassed $300 million in annual recurring revenue.

It did not disclose how much it was paying for Aim but sources close to the deal said it was around $350 million.

Cato in June raised $359 million in a funding round, valuing the cybersecurity firm at more than $4.8 billion, as investors bet on growing demand for artificial intelligence-driven…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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