Cybersecurity

"Paragon, an Israeli spyware maker that has largely kept a low profile in recent years, was acquired last week by American private equity giant AE Industrial Partners, according to Israeli news reports.

Tech news website Calcalist reported that the investment firm bought Paragon for $500 million, and depending on how the company grows, the deal could reach $900 million. Globes reported that the upfront payment is $450 million, 20% of which will go to Paragon’s 400 employees, and 30% to the five co-founders, with the remaining 50% going to U.S. venture capital fund Battery Ventures and Israeli venture capital fund Red Dot.

In 2021, Forbes first revealed the existence of Paragon, which didn’t — and still doesn’t — have a website. The magazine reported that the company was founded by a group of former Israeli intelligence officers: Ehud Schneorson, former commander of Unit 8200, a renowned Israeli spy agency whose alumni often then work in the cybersecurity private sector, as well as CEO Idan Nurick, CTO Igor Bogudlov, and vice president of research Liad Avraham."

https://techcrunch.com/2024/12/16/israeli-spyware-maker-paragon-bought-by-u-s-private-equity-giant/

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