Orsus raises funds for risk management software, buys rival Cinario
Orsus, a Mountain View, Calif. company that makes both software and hardware for risk assessment and security purposes, announced it has raised a round of capital and has acquired smaller rival Cinario. The financial terms of the deal have yet to be disclosed. All that is known about the financing round is that it was provided by existing investors.
The purchase may give Orsus more reach in the United Kingdom, where Ireland-based Cinario’s clients include retail giant Tesco, ASDA (a subsidiary of Wal-Mart) and the National University of Ireland. It’s current chief executive officer and chief technology officer will join the management team at Orsus, and other employees will be integrated into its new parent company.
Previously, Orsus raised $70 million from Cedar Fund, Clal Industries and Investments, Comverse, ComSor, Infinity Fund, Koor Industries, Modgal-Tec, Poalim Capital Markets and Singapore Telecom International. Cinario, on the othr hand, had only raised $3 million over the course of four rounds from Campus Venture Capital, Enterprise Ireland and Trinity Venture Capital.
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