uploads///skycure presentation

Skycure Seeks to Improve Symantec’s Position in the Cybersecurity Space

By

Aug. 30 2017, Updated 6:36 a.m. ET

Skycure marks Symantec’s second Israel-based acquisition

Earlier in this series, we discussed Symantec’s (SYMC) recent acquisition of Fireglass to expand its position in the cybersecurity space. Within a week of the Fireglass announcement, Symantec also announced the acquisition of Skycure, another Israel-based company.

Skycure is a cybersecurity company that has developed a mobile-first predictive threat detection platform for mobile devices. Financial terms of the acquisition were not disclosed.

Article continues below advertisement

Skycure, founded in 2012, uses AI (artificial intelligence) and machine learning (or ML) to predict likely threats to enterprise security. These two technologies are among the key areas that are expected to drive the $13 trillion in spending forecast during the next computing cycle. It also explains why technology companies like Microsoft, IBM (IBM), and Cisco (CSCO) are competing against each other to acquire startup companies in the AI and ML space.

Skycure’s multiplatform architecture protects customers’ mobile devices and networks across Apple’s (AAPL) iOS, Google’s (GOOG) Android, and Microsoft (MSFT) Window operating systems.

As businesses and consumers continue their shift toward mobile technology, Symantec is taking this opportunity to double down its efforts to promote its security offerings on iOS and Android.

Skycure’s profile

Earlier this year, Skycure entered a partnership with Microsoft (MSFT) to incorporate its platform into Microsoft’s EMS (Enterprise Mobility + Security) system. To date, Skycure has raised $27.5 million in funding, and its investors include New York Life, Shasta Ventures, Foundation Capital, and Pitango Venture Capital.

Advertisement

More From Market Realist

  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market RealistLogo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.