US cyber agency Fortinet (Nasdaq: FTNT) has made one different acquisition in Israel. The company in question this time is Notion Stage, which focuses on securing email correspondence. The acquisition worth is outwardly about $200 million.
Notion Stage, which employs over 100 people in Israel, is estimated to have annual recurring revenue of $15 million, which signifies that the deal, which is all-cash, represents a revenue a variety of of between 10 and 15. The company has raised $50 million from Pitango, State of Ideas Ventures, and Crimson Dot Capital Companions.
Notion Stage turned considered one of many quickest rising cyber companies throughout the email correspondence class, nonetheless struggled to generate the speedy progress of larger cyber platforms comparable to Palo Alto Networks, Confirm Stage, and even Wiz. It as a consequence of this reality appeared for a purchaser before now few months, and Fortinet, for which this a second acquisition in Israel after enSilo, seen the possibility. Sources throughout the cyber enterprise recalled Confirm Stage’s worthwhile acquisition of Avanan for merely $275 million. Avanan now generates annual revenue for Confirm Stage of over $100 million.
Notion Stage was primarily based in 2015 by Shlomi Levin and Michael Aminov, who’re longer part of its administration. The company’s CEO is Yoram Salinger.
Printed by Globes, Israel enterprise info – en.globes.co.il – on December 12, 2024.
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