Turn/River to buy Israeli security policy management company Tufin for $570M
Summary
Tufin says manual processes can introduce errors and potential security risks. Notable clients include Bloomberg LP, MetLife Inc., UBS Group AG, the U.S. Postal Service, General Electric Co., Pfizer Inc., AT&T Inc., Verizon Communications Inc., Apple Inc., IBM Corp. and Twitter Inc. “Since our inception nearly 20 years ago, we have made significant strides in developing our policy-based automation solution and have become a market leader,” Ruvi Kitov, chairman, co-founder and chief executive of Tufin, said in a statement. “This deal represents an important milestone for Tufin, and as a private company, we will have the opportunity to accelerate our growth through investments in our technology, people and go-to-market.” The acquisition agreement, which the Tufin board has approved, includes a 30-day “go-shop” period expiring May 5. The allows the board and its advisors to solicit, initiate, encourage or facilitate alternative acquisition proposals from third parties.
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