Israeli cybersecurity startup Sygnia to be acquired by Singapore investor Temasek, for $250 million
Sygnia, an Israeli cybersecurity startup that provides military grade cyber security services to companies worldwide, said Tuesday that it will be acquired by Singapore-based investor, Temasek, for $250 million. The transaction is subject to customary signing and closing conditions. Sygnia said that it will maintain its operational independence while collaborating with Temasek and its portfolio companies. Financial details about the acquisition were not disclosed.
Sygnia was launched in 2015 by Team8, the leading cybersecurity think-tank and company creation platform. It had not received any funding beyond its original seed investment by Team8. Sygnia is the third of four companies launched by Team8. The Founder and CEO of Sygnia, Shachar Levy, will continue to lead the company, Nadav Zafrir, former commander of Israel’s Intelligence Unit 8200 and CEO of Team8, will maintain his role as Chairman, and Ariel Smoler and Ami Kor, both Co-Founders, will remain in key positions at the company.
Sygnia leverages its digital combat experience, and a business-driven mindset to cyber security, to help organizations around the world. With the acquisition, Sygnia will grow its resources and expand its global reach as it continues building its capabilities as a world-class provider of cyber consulting and incident response services.
Sygnia works with companies worldwide to proactively build their cyber resilience and defeat attacks within their networks. Since it was founded it has managed numerous heavyweight cyberattacks and has become the trusted advisor of executive managements, boards, and technology teams of top organizations worldwide, including Fortune 100 companies.
The company works with organizations across a variety of industries, including financial, legal, retail and consumer goods products, information technology, media and entertainment, pharmaceutical, telecommunication, logistics and manufacturing.
“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,” said Shachar Levy, Sygnia’s founder and CEO. “I am incredibly proud of our team members – who have made this company into what it is. We will remain committed to the highest standards of professional excellence, client focus, decisiveness and speed.”
“Sygnia has built a powerful combination of professional proficiency, methodologies, technologies, and a culture of excellence, which is critically needed in confronting the growing complexity of cyber,” said Nadav Zafrir, Chairman of Sygnia and CEO of Team8. “Team8 will remain committed to Sygnia’s success and we will continue to collaborate and work closely together.”
Sygnia applies technological supremacy, digital combat experience, data analytics and a business-driven mindset to cybersecurity – enabling organizations to excel in this digital age. It’s a hybrid company, both providing services and developing technologies designed for managing and responding to sophisticated cyber threats.
The company has built a dream team of experts from military and industry backgrounds. It draws from the ranks of elite intelligence and technology units – including Unit 8200, known as the “Israeli NSA” – as well as top security talent from the industry.