NSO Group Buys Counter-Drone Company Convexum
Israeli cyber surveillance company NSO Group is acquiring
Convexum Ltd., a Tel Aviv startup developing counter-drone technologies, for
$60 million in cash, according to one person familiar with the matter who spoke
to Calcalist on condition of anonymity. NSO has already signed off on several
projects that will utilize Convexum’s technology in the U.S. and Australia, the
person said.
Approached for comment, NSO confirmed the deal but not its financial
details.
Founded in 2015 by Gilad Sahar, Niv Magen, and Tom Gol,
Convexum develops counter-drone perimeter protection technology. The company,
which got its start at the startup accelerator of venture capital firm F2
Capital, raised $2.2 million to date from F2. Convexum currently employs 10
people, all former members of the Israeli military’s 8200 unit, the Israeli
equivalent of the NSA.
Founded in 2010, NSO develops and sells cyberattack tools
that can be used to gather intelligence from mobile phones and other devices,
with its flagship product being a spyware called Pegasus. NSO counts
governments and law enforcement agencies among its clients. In 2019, Moody's
Investors Service estimated NSO’s revenues at $300 million. The company does
not currently have significant operations in the drone sector.
Convexum is joining NSO at the end of a year that saw some
severe incidents in the civilian world, and yet also offered many
opportunities, Sahar said, adding that the company will continue to develop its
technology.
NSO co-founder Shalev Hulio said that the group has decided
to increase its activity in the drone sector, as it is a growing industry
estimated to see much activity in upcoming years. The group will sell its
technology to public and government customers, he said.
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