Core Finance advised ATAR Labs on its acquisition by Micro Focus
Core Finance acted as the exclusive financial advisor to ATAR Labs ("ATAR”) on its acquisition by Micro Focus, one of Britain's largest technology companies.
Founded in 2017 by Burak Dayıoğlu, Gökhan Say, Murat Tora and backed by investor Diffusion Capital Partners ("DCP"), ATAR is a leading cyber security company in the Security Orchestration, Automation, and Response ("SOAR") space. ATAR’s umbrella solutions combine orchestration, incident management and interactive investigation. Since its foundation, ATAR became a must have solution for Security Operation Center ("SOC") teams enabling efficient detection, threat prioritization, capacity amplification, granular authentication, labor reduction and consistent workflow. The Company is headquartered in Ankara, Turkey and has 25 employees. ATAR is recognized by Gartner® as one of the prominent SOAR vendors.
The acquisition will accelerate Micro Focus' expansion into the SOAR market. The combination of Micro Focus' existing ArcSight platform, a Next-Gen security information and event management ("SIEM") software and ATAR will create significant product offering and customer synergies. This acquisition marks a first in Turkey within the field of cyber security, and will create opportunities to further enhance the software and product development market in Turkey. Micro Focus plans to maintain the research and development laboratory in Turkey as part of its global footprint.
Burak Dayıoğlu, co-founder & CEO of ATAR Labs said, “We have proven ourselves in the world and in Turkey, and brought great value to our country in a short time thanks to our innovative security solutions we have developed with local and national resources by our team dedicated to producing world-class technology. As the entire team, from the first day, we believed in our hearts that we will establish a great value in the cyber security field. Micro Focus, one of the leading software companies in the world, is making a very important investment in our country by acquiring Atar Labs. As the whole team, we are excited to become part of a world-leading company in the field of cyber security and software. We would like to thank Core Finance team for its diligent process and we really appreciate their hard-work during the transaction.”
This represents Core Finance's 3rd transaction in 2020, following our recently completed deals including the investment by Koç Holding in Vispera, leading retail-tech image recognition SaaS company.