Siris Capital in talks to acquire cybersecurity firm Radware: sources

Siris Capital in talks to acquire cybersecurity firm Radware: sources

Radware, a cybersecurity firm specializing in detecting and preventing targeted server attacks, is in talks to sell itself to private equity firm Siris Capital, according to people familiar with the matter.

No deal has been secured and talks could still fail, said the people, who have asked not to be named because the talks are private.

Radware has a market value of around $ 1.7 billion and competes with companies like Cloudflare, F5, and Akamai, which protect corporate websites against targeted denial of service attacks by malicious actors. Cloudflare, in particular, has seen its shares surge over the past year as investors see the growing importance of defending against cybersecurity attacks. Cloudflare shares have jumped nearly 270% in the past 12 months.

The interest of private equity firms in acquiring cybersecurity firms has grown as the risk of attacks increased. According to Pitchbook, the global transaction volume for cybersecurity private equity transactions exceeded $ 23 billion last month in 2021, a record for the industry. Thoma Bravo’s $ 12.3 billion acquisition of Proofpoint in April was the cybersecurity company’s biggest private equity buy to date.

Radware has over 1,000 employees and has an international headquarters in Tel Aviv, Israel, and a US headquarters in Mahva, New Jersey.

Spokesmen for Siris Capital and Radware declined to comment. Radware shares rose on the news and rose nearly 10% for the day to midday.

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