TechNation: Accenture Buys Startup Maglan, Launches Local Cyber-security R&D Center

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Cyber attack (illustrative).
Cyber attack (illustrative).Credit: Dreamstime

Accenture buys startup Maglan, launches local cyber-security R&D center

The global consulting firm Accenture announced Monday that it has acquired the Israeli cyber-security startup Maglan, and would fold its employees into a new research and development center in Israel. “The acquisition brings to Accenture a team of highly skilled cybersecurity professionals, who honed their skills fighting cyber crime and confronting cyber espionage around the globe,” Accenture said. Called the Cybersecurity R&D Lab, the new center in Herzilya will focus on advanced threat intelligence, active defense and industrial internet of things security by applying artificial intelligence, blockchain technology and advanced analytics, Accenture noted. Cybersecurity R&D Lab will initially employ 50 people and collaborate with Team8, a cyber-security investment firm founded by Nadav Zafrir, a former commander of the Israel Defense Forces’ vaunted 8200 intelligence unit. Founded in 1998, Maglan employed 30 people and counted customers in the financial services, telecommunications and automotive industries. No financial terms were disclosed for the Maglan acquisition. (Eliran Rubin)

Tech incubator launched for settlements on Gaza border 

SouthUp, a technology incubator located near Israel’s Gaza border will begin operations in September, offering local entrepreneurs a launch pad to companies in agrotech, cleantech, homeland security and other fields, its sponsors said on Monday. Shahar Belkin, SouthUp’s chairman and a founder of FST Biometrics, said the incubator aims to shore up the local economy, which has borne the brunt of rocket attacks from Hamas in the Gaza Strip. “We still have no solution to the conflict, but we believe that we can strengthen these settlements significantly in economic terms, and encourage companies to move from the center [of Israel] to the periphery,” he said. SouthUp will help its resident entrepreneurs raise capital, find markets and strategic partners, as well as provide working space for a monthly fee of just 4,000 shekels ($1,040). Sponsors include the Sha’ar Hanegev Regional Council, Sapir Academic College, OurCrowd partner Wolf Bielas, Qualcomm cofounder Andrew Viterbi, San Diego Jewish Federation high-tech entrepreneurs and Amdocs. (Eliran Rubin)

EFI acquires Optitex 

Electronics For Imaging, the U.S. digital-printing company founded by Israeli tech pioneer Efi Arazi, reported last week that it had acquired the Israeli company Optitex for as much as $52.8 million. Optitex’s 3D digital apparel simulation, combined with its 2D pattern-making software, enables clothing companies to cut the time from design to manufacturing of garments. “Optitex technology, combined with EFI Reggiani digital printers, will expand our textile ecosystem and help our customers set new standards for time-to-market, on-demand manufacturing, cost efficiency and automation in the textile industry,” said Gabriel Matsliach, a senior vice president at EFI. Founded in 1988 as a maker of 2D technology for the industry, it moved into 3D 10 years ago and today employs 100 people. EFI will pay $20 million in cash up front and the rest in milestone payments that could reach $32.8 million over the next three years. (Eliran Rubin)

Net group offers cyber-help to small users 

Individuals and small business will receive help in protecting themselves from hackers and viruses under a new program launched this week by the Israel Internet Association. Armed with a 700,000-shekel ($181,000) budget, it will offer advice in Hebrew and Arabic on the use of cyber-security freeware, online support groups, and a fee-based service where experts can be retained to identify hackers and scan users’ suspected file. “Israel has created the most advanced cyber defenses in the world, but naturally the focus of resources by national cyber-defense bodies is devoted to protecting strategic assets like ministries, government companies, critical infrastructure and big companies,” said the association said. “Private users and small businesses don’t enjoy any direct protection.” (Amitai Ziv)