Skybox Security, an Israeli cybersecurity company, has ceased operations and laid off all its employees, impacting around 100 workers in Israel and 200 in the United States.

The announcement was made by CEO Mordecai Rosen during a meeting with employees on Feb. 24, followed by an email outlining the next steps.

Employees in Israel were informed that they would not receive their final salaries and were advised to seek assistance from the National Insurance Institute.

The company stated it is entering liquidation, a process that entails stopping operations, selling assets, and distributing proceeds to creditors, including employees.

Simultaneously, Skybox sold its business and technology to another Israeli firm, Tufin.