Symantec acquires Israeli startup "Luminate Security" for more than $ 200 million

Symantec announced the acquisition of Luminate Security, an Israeli start-up that develops a platform for secure access to enterprise applications in a single-value connection. According to estimates, the scope of the transaction is more than 200 million USD.
Lumenate was founded by experienced entrepreneurs. The company's CEO, Ofer Samadry and, Leonid Belkind and Eldad Livni former Check Point's employees. until recently the Israeli company raised $ 14 million. Luminate has 40 employees in Israel and in the UD.  

 Lumenate plans to recruit more employees over the coming year. Luminate platform provides access to cloud and server enterprise applications, both at the individual application level and not at the network level, transparently to users. The platform extends Symantec's security capabilities to protect against cyber attacks for users accessing enterprise resources that are located anywhere in the cloud or on the physical organizational network. "Luminate's solution is based on Google's BeyondCorp philosophy, which eliminates broad network access to enterprise applications and replaces it with a user-specific approach to each app," Samadri said.

The approach that Google implemented within the company, Luminate took and became commercial. "Our platform is deployed in less than five minutes, and from then on, it provides full access to and control over all users' actions in their access to resources," said Ofer Samadri, CEO of Luminate.

The acquisition of Lumenate is in line with Symantec's strategy to acquire and build a comprehensive security platform with a special focus on "cloud-based and cloud-based" products, the company said. This is Symantec's fourth acquisition in Israel, which acquired the Jabellin Networks start-up in November 2018 for an estimated $ 20-30 million.