Riptech Explained

Type:Defunct
Industry:Computer security
Fate:Acquired by Symantec (now Gen Digital)

Riptech was a network security company.

History

The company was founded in April 1998, during the dot-com bubble, by Amit Yoran along with his two brothers and Tim Belcher. It began operations in December 1999 and raised $45 million in venture capital from Columbia Capital, Providence Equity, and Broadview Capital.[1] It was sold to Symantec (now Gen Digital) in August 2002 for $145 million in cash.[2]

Notes and References

  1. News: Riptech on frontlines of cybersecurity . . January 14, 2002.
  2. News: A Big Sale for (U.S.) Military Veterans Elad and Amit . Mary . Sagi-Maydan . . August 22, 2002 . subscription.