The Israeli cyber startup TrapX has been sold to the American company Commvault for about $ 20-30 million

The Israeli cyber startup TrapX has been sold to the American data management and protection company Commvault, according to an announcement published tonight (Tuesday). The amount of the deal has not been announced, but it is estimated that the deal is relatively small, about $ 20-30 million. This is a low amount of the company's total funding over its years, which stands at about $ 40 million from a number of prominent investors and funds, including Abex, BRM, Intel Capital, Opus Capital and others.
TrapX, which developed a product in the field of "cyber deception", was founded in 2012 by Yuval Malachi and Moshe Ben Simon, with a product that reviews the corporate computing environment, and assumes "traps" and "lures", and fictitious information. These lead hackers to make mistakes, as they can not always differentiate between them and the real systems of the organization.
However the company has undergone a series of changes in its management over the years, and the two founders have left the company in recent years. For the past two years, the company's CEO is Steve Preston. The company employs about 30 people, after its workforce was reduced by 30% in the last two years, according to data on its LinkedIn page. Although TrapX was previously a prominent company in the field of deception and had hundreds of customers , It seems that in recent years it has not risen in terms of business - which has made it a convenient target for purchase for Comvolt, which acquires a relatively low customer base and strong technology.
This is the first acquisition of Comvolt, New Jersey, in Israel. The American company has been operating a sales branch in Israel since 2012, but the acquisition will be the basis for the first development activity in the country.
Comvolt is traded on NASDAQ at a value of $ 3 billion, and deals with data management, backup and protection. According to the company statement, Comvolt's plan is to integrate TrapX's deception technology into Comvolt's data protection platform. Damage to a medical device in the hospital; Finding ransomware in a pressure controller that could lead to a dangerous failure in a manufacturing plant; "Or consistently assist customers in protecting their communications networks from subcontractors operating outside the organization's security rules, TrapX enables its customers in any industry to continue to operate safely," it said.