Cybersecurity Firm Cyberbit Shuts Down Israel Operations
Cyberbit, the cybersecurity training company, is shutting down its Israel office and laying off its local staff, according to Israeli media reports. The company has not said how many roles were cut, though the office reportedly employed several dozen people before the closure.
The closure also cuts one of Cyberbit’s last visible links to Israel, where it was launched as a spin-off from defense contractor Elbit Systems. Cyberbit built its name on cyber ranges, training platforms that let companies and government agencies run realistic attack simulations without putting live systems at risk.
Previous reportssuggest that Cyberbit had already been moving away from its old ownership structure. In 2020, Charlesbank Technology Opportunities Fund invested about $70 million in the company, using about $48 million to buy part of Elbit’s stake and putting another $22 million into Cyberbit itself. Elbit sold the rest of its holding in 2023,...
Copyright of this story solely belongs to hackread.com. To see the full text click HERE
