Shopping for security: Israel's startups are catching the eye of tech heavyweightsSep. 2, 2013
Thanks to the growth in mobile and cloud computing, and the more porous borders it brings to the enterprise, the security industry is growing, and Israel's is no exception.
IBM's recent purchase of Israeli security company Trusteer is just one example of the new popularity of security in the startup nation. Earlier in August, GE announced it was investing in Israel's Thetaray, the company's first security investment here. And in May, Cisco CEO John Chambers announced that the company is starting its own incubator in Israel, specifically to help security startups come to market.
Elsewhere, digital vault Cyber-Ark announced this week that it was increasing its staff by 50 percent, due to a rise in new business (nearly half the companies on the Fortune 50 list are among Cyber-Ark's 1,400 or so clients, including 17 of the 20 largest banks worldwide). The company's sales, according to its Israeli centre manager Chen Bitan, have risen 40 percent annually year on year for the past several years, and today the company is the largest private IT security company in Israel.
Security to deal with the new class of security attacks — advanced persistent threats (APT) or highly-destructive zero day attacks is very much on the mind of enterprise and tech companies, Tirosh said, making security startups attractive targets. And very often, companies use their new acquisitions or investments to open up new R&D labs in Israel, dedicated to working on security.
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