Israeli cyber security firm Cato Networks buys Aim Security, raises another $50 million

Israeli cyber security firm Cato Networks said on Wednesday it was buying cyber startup Aim Security, its first ever acquisition, and raising another $50 million in a private funding round.

Cato also said it had surpassed $300 million in annual recurring revenue.

It did not disclose how much it was paying for Aim but sources close to the deal said it was around $350 million.

Cato in June raised $359 million in a funding round, valuing the cybersecurity firm at more than $4.8 billion, as investors bet on growing demand for artificial intelligence-driven…