Calcalist Tech reports that Israeli cyber company Paragon is preparing to go public through a merger with a Nasdaq-listed SPAC at a pre-money enterprise value of $1.25 billion.
The report says the listing plan follows a December 2024 deal in which AE Industrial Partners acquired Paragon and merged it with REDLattice, a U.S. cybersecurity company serving American defense and government agencies. After the transaction, Calcalist Tech reports, Paragon would become part of a publicly traded Nasdaq-listed company, while Israel would remain the combined company’s hub for research, development and innovation.
Paragon and REDLattice generated $267 million in combined revenue in the 12 months ended June 2026, Calcalist Tech reports, a 29% increase from the same period a year earlier.
Calcalist Tech identifies Paragon as a company founded in 2019 by Israeli intelligence community veterans Idan Nurick, Igor Bogudlov and Liad Avraham together with former Unit 8200 commander Ehud Schneerson. The report also notes that former Prime Minister Ehud Barak is among its investors.
According to Calcalist Tech, Paragon’s flagship product is Graphite, a mobile surveillance and espionage system designed to infiltrate applications and collect data. The publication reports that Goldman Sachs and AE Industrial Partners are advising on the transaction.
Calcalist Tech says Paragon plans to use its public-company status to expand global operations, invest more in technology, products and artificial intelligence, and pursue strategic acquisitions.
