Private equity firm Siris Capital in talks to acquire cybersecurity firm Radware, sources say

Radware, a cybersecurity company that makes a speciality of detecting and stopping focused server attacks, is in talks to sell itself to non-public fairness agency Siris Capital, in accordance to folks acquainted with the matter.

No deal is assured and talks still can also disintegrate, said the folks, who asked now to no longer be named since the discussions are non-public.

Radware has a market valuation of about $1.7 billion and competes with companies including Cloudflare, F5 and Akamai, maintaining corporate internet sites from focused denial-of-service attacks by malicious actors. Cloudflare, in explicit, has seen its shares surge within the previous three hundred and sixty five days as investors possess seen the rising significance of defending cybersecurity attacks. Cloudflare shares possess gained about 270% within the previous 12 months.

Non-public fairness firms turned into increasingly attracted to acquiring cybersecurity companies as the threat of attacks has increased. World deal quantity for non-public fairness cybersecurity offers surpassed $23 billion in 2021 closing month, a file high for the business, in accordance to Pitchbook. Thoma Bravo’s $12.3 billion acquisition of Proofpoint in April used to be the predominant non-public fairness buyout of a cybersecurity agency ever.

Radware has more than 1,000 employees and has an international headquarters in Tel Aviv, Israel, and a U.S. headquarters in Mahwah, Current Jersey.

Spokespeople at Siris Capital and Radware declined to observation. Radware shares spiked on the info, and were up about 10% for the day in mid-day shopping and selling.

WATCH: How cybersecurity poses the following excellent scare threat within the U.S.

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