Israeli cyberattack company Paragon Solutions is leasing two more floors in Discount Tower in central Tel Aviv, sources close to the matter have told "Globes." Paragon, which was founded by veterans of the IDF 8200 intelligence unit, including Brig. Gen. (res.) Ehud Schneorson, a former commander of the 8200 unit, and former Prime Minister Ehud Barak, already has offices in the building. Estimates are that the additional two floors, which have not yet been occupied, will give the company an extra 2,000 square meters of office space.
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The building belongs to Israel Discount Bank and the Levinstein Group and one of the floors leased is owned solely by the Levinstein Group. According to the company's reports, rents in the tower cost NIS 183 per square meter per month, which translates into about NIS 180,000 per month for an entire floor.
The move has been made as part of preparations for growth following Paragon's acquisition last December by the US private equity fund AE Industrial Partners, in a deal that could reach $900 million. Paragon pledged as part of the deal to permanently keep its development activities in Israel, an unusual commitment in the cyber field, and therefore any future recruitment and deployment of employees will be carried out within Israel's borders only.
The company, which operates under the supervision of the Ministry of Defense, develops advanced spyware technologies intended for use by democratic countries. Among its products is Graphite software, which enables penetration of encrypted chat applications. Paragon is currently hiring about 150 additional employees to staff the new offices.
Published by Globes, Israel business news – en.globes.co.il – on June 5, 2025.
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