Edinburgh-based cyber security firm ZoneFox has been snapped up by a US business.
Terms of the deal were not disclosed.
The firm has been sold by its shareholders, who include Scottish business angel investment syndicates Archangels and TriCap, the Scottish Investment Bank and Napier University, to California’s Fortinet, which specialises in broad, integrated and automated cybersecurity services.
ZoneFox, a spin-out from Napier University, was established in 2010 and focuses on providing security systems that tackle the growing issue of insider threats to organisations across the globe. Its customers include healthcare firm Craneware, Zenith Bank, Rockstar Games, Bede Gaming, Pinsent Masons and Virgin Care.
The company employs 25 people at its offices in Edinburgh.
ZoneFox chief executive Jamie Graves said: “Integrating our solution with the Fortinet Security Fabric will allow us to extend our reach to a broad spectrum of Fortinet and third-party solutions to solve customers’ most difficult challenges in network security.”
Niki McKenzie, investment director at Archangels, said: “ZoneFox is a Scottish technology success story around the world and Archangels is proud to have supported the business and the management team from an early stage.
“The threat from cyber security has never been more acute and today’s announcement signals the next chapter in the ZoneFox story, enabling the team to provide protection and support to an even wider range of organisations. We are confident that the business, and its staff, will flourish as part of Fortinet.”
Kerry Sharp, head of the Scottish Investment Bank, said: “ZoneFox is an excellent example of an innovative Scottish technology business that’s had a clear vision from the outset on how to develop, deliver and commercialise first class cybersecurity products for businesses globally.”
And Ken Xie, founder, chairman of the board and chief executive officer at Fortinet also commented that the tie-up means the US business is “well-positioned to provide our customers with an integrated approach to defend against insider threats, eliminate network blind spots and protect today’s expanding attack surface with automation and machine learning”.