Chinese telecom device maker Huawei reportedly plans to acquire Israeli cloud database security start-up HexaTier for up to US$42 million.
The two parties are expected to reach an agreement soon, according to reports in foreign media. On the completion of the acquisition, Huawei will build a cloud database research and development center in Israel via HexaTier.
Neither Huawei nor HexaTier refused to comment on the news.
HexaTier currently has 40 employees and the company has gained USD14.5 million in investments. Its major investors include Israel's venture capital JVP, Magma, and Rhodium.