Photo Credit: Macedo Media / Pixabay

U.S.-based Symantec Corp. announced Tuesday that it has acquired the Israeli cyber security startup company Luminate Security Ltd.

The Tel Aviv-based firm, which also has offices in Palo Alto, CA, was founded in 2017 by three Israeli entrepreneurs; Ofer Smadari, Leonid Belkind and Eldad Livni were all IDF veterans from the army’s cyber defense unit. The company they built, a graduate of the Microsoft ScaleUp accelerator, develops universal software that provides secure access to corporate applications on hybrid cloud environments.


Symantec did not disclose the terms of the agreement, according to C-Tech, but an unnamed source quoted by the news outlet said it is valued at $250 million.

Symantec has acquired three Israeli cyber security companies in the past two years: Fireglass for $250 million, Javelin Networks for $30 million, and Skycure for $250 million.

“Secure and private access is a cornerstone of cyber defense,” said Symantec president and CEO Greg Clark in a statement on Tuesday. “We are excited to partner with the Luminate team and look forward to rapid delivery of this unique capability to our customers and continuing to provide quantifiable value to their cloud journey.”