After acquiring malware defense company Fireglass, Symantec Corp. (Nasdaq: SYMC) has made its second deal of July with the purchase of Skycure, a threat intelligence company for mobile devices. The target is backed by a group of investors, including: Foundation Capital, Shasta Ventures, Pitango Venture Capital, and New York Life Investment Management.
Skycure provides predictive mobile threat defense services across Android, Windows and iOS devices, such as iPhones and Apple Watches. The target’s technology leverages crowd-sourced threat intelligence and device analysis to proactively protect mobile devices from malware, network threats, and app vulnerability exploits. Skycure has offices in Palo Alto, California and Tel Aviv, Israel. O’Melveny & Myers LLP served as legal counsel to SkyCure, while financial terms of the deal were not disclosed.
Symantec, based in Mountain View, California, has been reinventing itself in recent years to keep up with the fast growing cybersecurity sector. As one of the world’s largest developer of security software, Symantec has been transitioning as the industry is no longer solely focused on the antivirus software arena it helped to build.
Cybersecurity has been a prime sector for middle-market M&A deals. Recent acquisitions include: FireEye Inc.’s (Nasdaq: FEYE) acquisition of competitor iSight Partners; cybersecurity provider Thycotic’s purchase of Arellia, an Insight Venture Partners-backed Windows protection software company; and SuperCom’s (Nasdaq: SPCB) deal to buy Safend Ltd., a provider of encryption and data theft protection software.