CyActive is a predictive cyber security company, which places its clients ahead of potential cyber threats by predicting and preventing future attacks.
Online payments company PayPal, a unit of eBay, has announced it has acquired cyber security start-up CyActive for $60 million.
"Located in one of the world's top cybersecurity hubs, this new security center will allow us to tap into the country's cutting-edge technology and top cybersecurity talent," said James Barrese, CTO, PayPal.
CyActive is a predictive cyber security company, which places its clients ahead of potential cyber threats by predicting and preventing future attacks. CyActive has developed an unprecedented ability to automatically forecast the future of malware evolution, based on bio-inspired algorithms and a deep understanding of the black hats’ hacking process.
The company claimed that CyActive is the first to offer proactive detection of future malware before it has ever seen the light of day. The resulting solution delivers unparalleled protection to IT and OT assets.
CyActive is backed by Jerusalem Venture Partner's (JVP), Israel’s leading venture capital firm, and by the Venture Capital Unit of Siemens.
Liran Tancman, co-founder, CyActive, said,” Since launching in 2013, we have been tirelessly developing our future-proof solution to secure networks against increasingly complex multi-pronged cyber attacks. We are excited to announce today that we have entered an agreement to be acquired by PayPal,”
“PayPal’s plans for CyActive is the ability of PayPal to utilize CyActive technology to prevent cyber security threats and predict the development of malware, the reaction of CyActive’s customers and partners and third parties to the transaction and the possibility that integration following the transaction may be more difficult than expected,” said, Shlomi Boutnaru, co-founder, CyActive.
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