Israeli venture capital firm JVP announced Tuesday that it sold its portfolio company, MagniFire Websystems, to F5 Networks for $29 million in cash.

F5, a provider of application traffic management products, plans to incorporate MagniFire's web security gateway, TrafficShield, into its product line. The acquisition will enhance F5's ability to help customers address the issue of application security.

F5 plans to retain MagniFire's entire staff, which are based in New York and Israel.