The Stack Archive News Article

Symantec to acquire Israeli mobile security startup Skycure

Wed 12 Jul 2017

Mobile security

U.S. antivirus software giant Symantec has acquired Israeli mobile security firm Skycure in a bid to bolster its Cyber Defense platform for enterprise customers.

The predictive threat detection platform, which is specifically designed for mobile devices, will be made available to Symantec Endpoint Protection and Norton Antivirus customers and partners once the deal closes.

While Symantec has not yet revealed any financial details, reports are suggesting that the sum could total $270 million (approx. £210 million).

‘Mobile is a core component of our strategy and the acquisition of Skycure is a major step forward in executing it. Together, we will offer the cloud generation an integrated mobile cyber defense architecture that will protect customers’ mobile devices and networks across iOS, Android and Windows,’ said Symantec CEO, Greg Clark.

According to the company’s research, over 600 new vulnerabilities were discovered in the iOS and Android operating systems last year. It added that mobile malware detections doubled to a total of 18.4 million.

“One of the most dangerous assumptions in today’s world is that iOS and other mobile devices that employees bring into the office are safe, but the apps and data on these devices are under increasing attack. We believe that tomorrow’s workforce will be completely mobile and will demand a cyber defense solution that travels with them,” added Clark.

The announcement marks Symantec’s second deal with an Israeli startup this week. The company said that it is also planning to buy Fireglass for an estimated $250 million. Fireglass specialises in browser isolation technology which seeks to tackle ransomware, malware and phishing attacks.

Symantec also made a series of key acquisitions last year, buying consumer identity-theft protection service LifeLocker in November for $2.3 billion and Blue Coat from Bain Capital for $4.65 billion last June.

The cybersecurity provider recently launched a new venture capital branch, named Symantec Ventures. The investment arm is looking to fund cybersecurity companies and promote the Cyber Defense platform among startups.


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