Former Israeli PM Ehud Barak's Cyber Firm Eyes Wall Street IPO
Former Israeli Prime Minister Ehud Barak's offensive cyber company, Paragon, is in advanced talks to list on Wall Street through a merger with a SPAC (Special Purpose Acquisition Company). The company, co-founded by Barak and former head of Unit 8200, Brigadier General (res.) Ehud Shaniorson, in 2019, intends to trade on the Nasdaq stock exchange. The valuation and timeline for the listing have not yet been disclosed.
Paragon stated that Israel will remain the company's development and innovation hub even after the deal. The SPAC route was chosen over a traditional IPO to capitalize on market opportunities, according to the company. Paragon was acquired in December 2024 by the American investment fund AE Industrial Partners for an estimated $900 million, contingent on meeting certain milestones.
The company's flagship product, Graphite, is reportedly capable of penetrating encrypted applications such as WhatsApp and Signal. About 18 months ago, Paragon faced international controversy following revelations about its clients and the use of its "Graphite" spyware.
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