F5 acquires cyber security co Versafe

Rishon LeZion-based Versafe provides web anti-fraud, anti-phishing and anti-malware solutions.

F5 Networks Inc. (Nasdaq: FFIV) has acquired Rishon Lezion based Versafe Ltd., which provides web anti-fraud, anti-phishing, and anti-malware solutions. Financial details about the acquisition were not disclosed and F5 said that the acquisition was not expected to have a material impact on the company’s operating results.

Versafe was founded in 2009 by CEO Eyal Gruner, COO Boaz Zilber and VP sales EMEA Idan Amir. The company has 30 customers worldwide and raised $8 million earlier this year at a company value of $30 million.

This is F5's fourth acquisition in Israel. Last year, F5 acquired load management solutions company Traffix Systems for $120 million, having previously bought MagniFire Websystems for $30 million and Crescendo Networks for $5.6 million.

F5 said that Versafe's advanced web and mobile protection solutions combined with its Security Operations Center (SOC) will provide greater breadth to the company's existing security solutions.

F5 EVP product development and CTO Karl Triebes said, “The acquisition supports F5’s vision and commitment to provide our customers with secure access to data and applications from any location; from any device. Web applications are under increasing attack, which can lead to the theft of intellectual property, money, sensitive data and identity. Versafe provides comprehensive, real-time detection and protection for every user, every device and every browser.”

Gruner said, “Businesses with mission critical and sensitive web operations need a trusted advisor for security and one with a deep understanding of cyber-crime. Together, F5 and Versafe plan to provide this support and deliver immediate protection against fraud, phishing, pharming, man-in-the-middle and malware threats. We look forward to joining the F5 team and bringing new security solutions to our customers.”

Versafe offers solutions as a subscription service, protecting against fraud and the theft of intellectual propert, without requiring any software download or device registration. Their solution detects malware-born fraud and other client side online threats for mobile and web applications, with the ability to scale from mission-critical enterprise applications to the largest transactional sites on the web. Versafe also operates an advanced remediation and advisory security service through its SOC. The

Published by Globes [online], Israel business news - www.globes-online.com - on September 17, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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