Israeli defence electronics contractor Elbit Systems said on Monday its wholly owned subsidiary Cyberbit raised US$30 million from Canadian private equity investor Claridge Israel.
Cyberbit provides cyber training and simulation technology as well as detection of cyber attacks and response.
The investment will facilitate Cyberbit’s expansion of its sales and marketing operations, primarily in North America, enhance customer and partner support and boost development, Elbit said in a statement.
“We see the cyber security field as a growth engine,” Elbit CEO Bezhalel Machlis said.
Update: Claridge Israel is an investment partnership between Caisse de dépôt et placement du Québec and Claridge Inc, the family office of Stephen Bronfman. It was launched in 2015.
As a result of the deal, Claridge Israel Managing Partner Oded Tal will join Cyberbit’s board of directors.
(Reporting by Tova Cohen; Editing by Tova Cohen)
(This story has been edited by Kirk Falconer, editor of PE HUB Canada)