Market Overview

Magal Security Systems Acquires WebSilicon

Magal Security Systems (NASDAQ: MAGS) today announced the acquisition of WebSilicon Ltd., an Israeli-based company with unique monitoring offerings for landline and wireless networks.

WebSilicon Ltd. will form an integral part of Magal's recently announced cyber strategy that will expand its offerings to deliver integrated physical-cyber solutions for critical sites.

Eitan Livneh, President and CEO of Magal S3, commented: "Magal chose WebSilicon due its strong executive and development team, as well as its successful product sales to intelligence and other cyber protection players. The founders' experience and backgrounds will allow Magal to accelerate its efforts to be a leader in the convergence of physical and cyber security. WebSilicon will continue to support its existing customers and expand its presence in the network management and monitoring markets."

Iftah Bratspiess, CEO of WebSilicon, commented: "We are very excited to join the Magal group and to become part of a larger and successful organization. This will enable us to improve our support to our existing customers, address new markets and invest more in our leading cyber technology."

About Web-Silicon

WebSilicon is a leading company in the rapidly growing network management and monitoring markets. The company develops unique hardware and software

See full press release

Posted-In: Earnings News Guidance Management M&A Global

 

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