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Cato Networks, a company based in Israel, buys Aim Security and raises an additional $50 million

Cato Networks, an Israeli cyber security company, announced on Wednesday that it had acquired Aim Security. This was its first acquisition and the company raised another $50 million through a private financing round.

Cato said that it also had exceeded $300 million in annual revenue.

Sources close to the deal say that it is around $350 million.

Cato raised $359m in June in a round of funding, which valued the cybersecurity firm at over $4.8bn. Investors betted on growing demand for artificial-intelligence-driven networking and security solutions.

Investors are becoming more interested in cybersecurity companies that use AI to combat sophisticated cyberattacks.

It said that the latest funding brought its total raised for the round to $409 millions, adding that the financing was done on the same terms.

Cato was founded by Shlomokramer and Gur Shatz in 2015. It combines network and security services into a cloud platform called Secure Access Service Edge (SASE).

Kramer, CEO of Cato Networks, said that "AI transformation is going to eclipse digital transformation in the next decade as the primary force shaping enterprises."

With the acquisition of Aim Security we are turbo-charging SASE with advanced AI security features to secure our customer's journey into the exciting new AI era.

(source: Reuters)