US private equity firm Siris Capital is in talks to buy Israeli cybersecurity company Radware Ltd. (Nasdaq: RDWR), for at least $1.7 billion, CNBC reports, according to people familiar with the matter.
Radware is a veteran tech company founded by the Zisapel family in 1997, which is headed by chairman Yehuda Zisapel and CEO Roy Zisapel. The company, which has traded on Nasdaq since 1999, provides cybersecurity solutions for virtual, cloud and software defined data centers. Radware has a valuation of nearly $1.7 billion.
Headquartered in Tel Aviv, and with US offices in New Jersey, Radware has more than 1,000 employees.
CNBC added, “No deal is assured and talks still may fall apart, said the people, who asked not to be named because the discussions are private.”
Radware’s share price is currently up 5.2% at $36.84, giving a market cap of $1.687 billion. The company’s share price has risen 35% since the start of the year and by 55% over the past 12 months.
CNBC said that spokespeople at Siris Capital and Radware declined to comment.
Published by Globes, Israel business news – en.globes.co.il – on September 13, 2021
Copyright of Globes Publisher Itonut (1983) Ltd. 2021