Cisco in talks to buy Israeli cyber startup Zafran at steep discount

Israeli cybersecurity startup Zafran Security is reportedly in advanced talks to be acquired by Cisco for $150-$200 million, a significant discount from its $200 million-plus valuation in late 2025. This potential sale follows the departure of co-founder and CPO Snir Havdala, who joined Nvidia, and comes despite Zafran's denial of sale negotiations, stating Cisco is making a strategic investment. The company, which has raised over $130 million, has reportedly struggled to translate its strong founding team and fundraising into sustained commercial growth in a competitive market, with annual recurring revenue around $20 million. Zafran's CEO, Sanaz Yashar, previously stated in late 2025, "We have no intention of selling the company. We still have a great deal to accomplish in the global market."