Weaveworks, a technology company with offices in London and San Francisco, is buying Magalix, an Egyptian-American cloud security start-up, for an undisclosed amount.
The agreement will help the companies to offer innovative products to accelerate the digital transformation of their clients and add more to the cloud security.
“Imagine securing your platforms 100 times faster with very high confidence while evolving them … Weaveworks and Magalix share that joint mission to make it easy to innovate fast without jeopardising security and stability,” said Mohamed Ahmed, co-founder and chief executive of Magalix.
Since its inception in 2017, Magalix has successfully completed multiple rounds of investments totalling $4.2 million. Some of the biggest investors of the company in Egypt include Endure Capital and Egypt Ventures.
“Together, we can help more customers accelerate their adoption of cloud native technologies to help them achieve higher pace of innovation within their organisation while striking the right balance between agility and trust,“ said Ahmed Badran, Magalix’s co-founder and chief technology officer.
Washington-based Magalix has a 25-member research and development engineering team placed in Egypt.
Founded in 2014, Weaveworks said it helps customers adopt cloud computing solutions, and managing cloud-native infrastructure and applications “quickly, reliably and at scale”.
It raised $36.65m funding round in December 2020 that was led by some of the world’s leading public cloud and telecommunications companies, bringing total funds raised to date to $60m.
Some of its main investors include Amazon Web Services, Ericsson and Google Ventures.
“Enterprise customers have made it clear that trusted application delivery is critical to the success of their increasingly complex cloud native platforms,” said Alexis Richardson, chief executive of Weaveworks.
“With the acquisition of Magalix, Weaveworks introduces customisable policies, compliance capabilities and comprehensive risk visibility … ensuring only authorised applications are deployed and there are no nefarious activities,” Mr Richardson said.
