Forescout acquiring Israel’s CyberMDX for $80 million
CyberMDX develops healthcare cybersecurity solutions delivering visibility and threat prevention for medical devices and clinical networks
Israeli-founded cybersecurity company Forescout Technologies is acquiring Israeli startup CyberMDX. Founded in 2017, CyberMDX has raised $30 million to date, with its investors including Pitango and OurCrowd. The companies didn’t announce the cost of the acquisition, but Calcalist has learned that it is estimated to be in the region of $80 million. CyberMDX employs around 50 people and they will join Forescout’s 200 employees in Israel and 1,100 workers worldwide. Forescout was acquired for $1.9 billion in February 2020 by private equity firm Advent International and Crosspoint Capital Partners.
CyberMDX was founded in 2016 by CEO Amir Magner, former head of the cyber division at Israel’s Prime Minister’s Office, and Moti Shniberg, who also co-founded facial recognition startup Face.com, which was acquired by Facebook in 2012 for $100 million.
Amir Magner (right) and Wael Mohamed. Photo: Forescout
CyberMDx develops technologies that protect connected medical devices in hospitals and clinics against cyberattacks. The system monitors a medical facility’s network to automatically identify the most crucial devices and assess potential risks. Late last year, Claroty acquired fellow Israeli company Medigate, which develops similar technology.
“Forescout is seeing rapid growth in healthcare, a market the company has always focused attention on from a technology and sales perspective,” said Wael Mohamed, Chief Executive Officer of Forescout. “Cybersecurity for IoMT, much like cybersecurity for OT devices, requires specific expertise and technologies. We are pleased to have the CyberMDX team join Forescout as we continue delivering new capabilities on our market-leading platform and grow our R&D center.”
“CyberMDX enables hospitals to provide quality care by securing and protecting the systems and devices they rely on every day to treat patients and save lives,” said Amir Magner, President and Co-Founder of CyberMDX. “We are thrilled to join the Forescout team where our innovation can continue to make a profound difference to healthcare organizations around the world.”