Acquisition will help Juniper target the ATP space
In September 2017, Juniper Networks (JNPR) announced that it would acquire Cyphort for an undisclosed sum. Cyphort is a software security company that provides enterprises with security analytics to fight against advanced threats.
Cyphort’s product offering would be integrated with Juniper’s SKY ATP product line, and this acquisition could strengthen Juniper’s capabilities in the ATP (Advanced Threat Prevention) space.
According to Juniper’s press release, “Cyphort’s technology complements traditional security information and event management (SIEM) platforms. The open, scalable Cyphort security analytics platform helps incident responders and security analysts work more effectively to secure your business.”
Cyphort combined with Juniper Sky ATP to provide companies with increased performance and threat detection using advanced machine learning and AI (artificial intelligence) tools.
Cyphort has received over $53 million in funding
Cyphort was founded in 2011 and has received ~$53.7 billion in funding, according to Crunchbase. The company closed its Series C funding round from Sapphire Ventures when it raised $30 million in June 2015.
Other investors include Trinity Ventures and Matrix Partners. The estimated annual revenues generated vary between $5 million and $10 million for Cyphort.
Juniper faces competition from several niches and established players in the security space. The security market is dominated by Cisco Systems (CSCO), which has a market share of almost 16%, according to IDC.
Other major players in this space include Palo Alto Networks (PANW), Check Point Software Technologies (CHKP), Fortinet (FTNT), and Symantec (SYMC) with respective market shares of 14.0%, 12.6%, 10.6%, and 4.6%.