Huawei buys out Israel cyber security startup Hexatier for $42m

REUTERS/Hannibal Hanschke/Files

China-based telecom equipment giant Huawei has completed the acquisition of Hkstir (Hexatier), a cyber security startup in Israel, for $42 million, the Calcalist reported.

Founded in 2009 as GreenSQL by Amir Sadeh, David Maman and Hadar Eshel, Hexatier secures databases in the cloud. It has 40 employees in Tel Aviv, Calfornia and Boston.

Hexatier’s software integrates information security systems for monitoring and supervision.

Also Read: China’s Huawei, Singapore’s NUS Enterprise launch IoT accelerator I5Lab

Huawei intends to use Hexatier’s technology to set up a research and development centre in Israel for databases in the cloud. The negotiations follow a visit by Huawei Chief Executive Officer Ren Zhengfei to Israel several weeks ago.

Prior to the latest deal, Hexatier raised up to $15 million from Israeli venture capital funds JVP, Magma and Rhodium.

Also Read: Huawei to plan $2b bond issue as China tech funding booms

The Israel tech firm since last year has been focusing on securing information on databases in the cloud, and even protecting databases on premises.

Huawei reportedly employs around 170,000 employees with more than half are employed in research and development in 21 different centers including China, the United States, England, Canada, Pakistan, France, Belgium and Germany.

The Chinese phone maker recorded $60 billion in sales in 2015, about 37 per cent higher in the same period in 2014. Operating profit last year was $7 billion.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.