2023-12-19 22:32:00
Israeli Cyber Defense Start-Up Spera Sold to US Giant Okta for Up to $130 Million
In a major business deal, Israeli start-up Spera, co-founded by two graduates of the prestigious military unit 8200, Dor Peldel and Ariel Kadishevich, has been acquired by US company Okta, which is traded on Nasdaq. While the exact amount of the transaction remains undisclosed, reports suggest that the deal is valued at between 100 and 130 million dollars.
Spera, based in Israel, specializes in the development of cutting-edge identity management technologies and monitoring systems. According to the company, its innovative system has successfully resolved approximately three-quarters of the identity management challenges it has encountered, pinpointing vulnerabilities within the organizations it serves.
The acquisition represents a significant milestone for Spera and its founders, marking a successful exit for the Israeli start-up. The move also showcases the potential of Israeli cybersecurity technology and expertise, which continues to attract interest and investment from global industry leaders.
The purchase of Spera by Okta demonstrates the growing importance of cybersecurity and identity management in today’s digital landscape. With the integration of Spera’s technology into Okta’s portfolio, the combined expertise of both companies is expected to further enhance the security and efficiency of identity management systems for organizations worldwide.
As Israeli start-ups and entrepreneurs continue to make waves in the global tech industry, the acquisition of Spera by Okta serves as a testament to the innovation and talent driving the country’s cybersecurity sector. The deal not only highlights the potential for further growth and success within the Israeli tech ecosystem but also solidifies the country’s position as a key player in the global cybersecurity market.
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