Elron and Intel have exited the networking security technology developer in a $50m acquisition by Rapid7 following some $12m of funding.
Security analytics technology provider Rapid7 has bought Israel-based networking security technology developer Alcide for $50m, allowing semiconductor technology producer Intel and holding company Elron Electronic Industries to exit, Globes reported yesterday.
Elron had reported to the Tel Aviv Stock Exchange that it held a 24% stake in the business and would receive $12m from the deal.
Founded in 2016, Alcide provides an end-to-end security platform for cloud infrastructure based on Kubernetes, an open-source system used to automatically manage containerised applications.
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