IGP Acquires 25% Stake in Mobile Forensics Firm Cellebrite for $110 Million

Mobile data and entertainment company Sun Corporation has sold a 25% stake in its Israel-based mobile forensics subsidiary Cellebrite Mobile Synchronization Ltd. to Tel Aviv-based Israel Growth Partners (IGP) Ltd. for $110 million, Sun Corp announced in a filing with the Tokyo Stock Exchange earlier this month. Cellebrite announced the investment deal on Monday.

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For the completion of the deal, IGP has partnered with Israeli institutional investors Leumi Partners Ltd., the venture arm of Israel’s Bank Leumi, Clal Insurance Enterprises Holdings Ltd., and Discount Capital Ltd., the investment arm of Israel Discount Bank Ltd.

Founded in 1999 and based in Petah Tikva, a town in the Tel Aviv area, Cellebrite specializes in mobile forensics and its devices are used for mobile data extraction by law enforcement, intelligence agencies, military entities, law firms, and security firms.

In May, Calcalist first reported on the negotiations between Sun Corp and IGP, following a December report on Sun Corp’s intent to offload at least part of its majority stake in Cellebrite, which it acquired in 2007 for $17 million.