US investment firm acquires Israeli spyware developer Paragon for $900m
Israeli company Paragon, known for its spyware, has been acquired by US investment firm AE Industrial Partners. The deal is valued at $500 million, but could reach $900 million depending on the company's growth.
Here's What We Know
Paragon was founded by former Israeli intelligence officers and in 2021, the company became known for its phone hacking services that allow access to apps such as WhatsApp, Signal, Facebook Messenger and Telegram. Paragon's product, Graphite, is being compared to NSO Group's other famous Pegasus hacking software.
In October 2024, Paragon signed a $2 million contract with U.S. Immigration and Customs Enforcement. The deal with AE Industrial Partners will allow Paragon to expand its presence in the US market, as the company is listed as a "good" company by the US presidential administration that refrains from selling intelligence gathering solutions to non-democratic regimes. Paragon will continue its operations in Israel, but will export its technology to the US.
Source: calcalistech
