Intuit to buy Israeli cloud security co Porticor

Porticor is Intuit's fifth acquisition this year.

US company Intuit (INTU) announced today that it planned to buy Porticor, an Israeli company specializing in cloud-based security. "Porticor’s unique combination of state-of-the-art encryption and patented key management systems protects critical data in public, private and hybrid cloud environments. The transaction is expected to close in the next week," Intuit said.

Porticor is Intuit's fifth acquisition this year, that is, in six weeks.

In May last year, Intuit bought Israeli company Check for $360 million.

Published by Globes [online], Israel business news - www.globes-online.com - on February 5, 2015

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