Boston cyber companies join forces in $31 million acquisition

Udi Mokady (center) with CyberArk’s executive team on the floor of the Nasdaq this morning (courtesy photo)
Udi Mokady (center) with CyberArk’s executive team on the floor of the Nasdaq this morning (courtesy photo)

CyberArk, an Israeli cybersecurity company with its US headquarters in Newton, will pay $30.5 million to acquire Waltham-based Viewfinity Inc.

Viewfinity, which also has an office in Israel, makes software that controls user privileges on Windows networks. CyberArk said the acquisition would enable businesses to stop malware-based attacks and limit hackers’ opportunity to move around in a company’s network.

A CyberArk spokeswoman said the company expected “nearly all” of Viewfinity’s 30 employees would remain employed. CyberArk has more than 500 employees worldwide, the spokeswoman said.

“Privilege vulnerabilities exist all throughout an organization’s IT infrastructure – whether deep within the network or on end-user devices – and are exploited in 80 to 100 percent of advanced attacks,” Udi Mokady, CyberArk’s president and chief executive, said in a statement.

Financially, CyberArk said it expected Viewfinity would boost its revenue by $7 million to $9 million next year. CyberArk made $36 million in revenue from April to June. The all-cash deal is expected to close by the end of 2015.