Qualcomm buys Israel's SAM Seamless Network for more than $150M
What's the deal? QualcommDealroom has a profile for this one. Try Dealroom → is acquiring Israeli cybersecurity company SAM Seamless NetworkDealroom has a profile for this one. Try Dealroom → in a deal valued at more than $150 million, according to Calcalist estimates. SAM protects and monitors more than 500 million connected devices across 15 million networks, working with internet service providers and telecom equipment makers. Its customers include AT&TDealroom has a profile for this one. Try Dealroom →, Verizon, Israel's Bezeq, Belgium's Telenet, and the UK's Virgin Media.
Why now? The purchase fits the strategy chief executive officer Cristiano AmonDealroom has a profile for this one. Try Dealroom → outlined at the recent Computex conference: developing processors that let home and personal edge devices handle more AI computing, easing the load on data centers. To support more data processing on devices, Qualcomm wants to thicken its security layer against breaches.
What's the endgame? SAM protects communication networks on the client side — near homes or in the link between telecom companies and homes. The software gives Qualcomm a ready capability to harden home, small-business, and carrier networks at the edge of 5G and AI services. The startup will continue operating independently as Qualcomm expands its telecom cybersecurity business.
The signal: The deal continues Amon's pattern of relatively small buys, sometimes after long talks — as with Israel's Autotalks last year for about $80-90 million. It also adds to a steady stream of Israeli cybersecurity exits despite a tougher global funding climate.
SAM was founded by chief executive officer Sivan RauscherDealroom has a profile for this one. Try Dealroom → and vice-chairman Shmuel ChafetsDealroom has a profile for this one. Try Dealroom →, a partner at Target Global. The company has raised $30 million to date, with its most recent round in 2021 at a $60 million valuation. Investors include Intel Capital, Verizon VenturesDealroom has a profile for this one. Try Dealroom →, and BlackBerry. SAM employs 80 people in Israel and the US.
