Rapid7, Inc. (NasdaqGM:RPD) agreed to acquire Alcide.IO Ltd. from Elron Electronic Industries Ltd. (OTCPK:ELRN.F) and others for approximately $50.5 million on January 28, 2021. The total purchase price of approximately $50 million in cash, is subject to certain adjustments. Elron said that it held 24% of Alcide, and would receive $12 million from the acquisition deal. $1.3 million of the acquisition price will be deposited in a trusteeship for 18 months to secure certain indemnity commitments to the acquiring company. The notification states that Elron, which invested in Alcide at the seed stage, will post a profit of $11.5 million on the deal. Alcide's 30-person team will join Rapid7 at its new Israeli R&D center. Most of its employees will continued to work under Rapid7, but Alcide will cease to have independent marketing and sales, and so some employees will be laid off. The deal also includes bonuses designed to keep the existing team at the company, and an undisclosed amount for expanding the Israeli development center. The acquisition is not expected to have a material impact to Rapid7's financial results for calendar year 2021.

Rapid7, Inc. (NasdaqGM:RPD) completed the acquisition of Alcide.IO Ltd. from Elron and other on January 28, 2021.