Fortinet, the global cybersecurity leader driving the convergence of networking and security, announced that it has entered into a definitive agreement to acquire Lacework, the data-driven cloud security company.
Lacework delivers a leading AI-powered cloud security platform that seamlessly integrates all critical CNAPP services. With patented AI and machine learning technology, an agent and agentless architecture for data collection, a homegrown data lake, and a powerful code security offering, Lacework is trusted by nearly 1,000 customers to deliver comprehensive security from code to cloud.
Fortinet is renowned for its cybersecurity innovation with more patents than the nearest three competitors combined and over 100 inclusions in industry analyst reports, including recognition in eight Gartner® Magic Quadrant™ reports. Fortinet delivers its solutions as part of the Fortinet Security Fabric, an integrated cybersecurity platform that spans Secure Networking, AI-driven Security Operations, and Unified SASE, which includes access and cloud security.
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Fortinet intends to integrate Lacework’s CNAPP solution into Fortinet’s Unified SASE offering, forming one of the most comprehensive, full stack AI-driven cloud security platforms available from a single vendor. This will help customers identify, prioritize, and remediate risks and threats in complex cloud-native infrastructure from code to cloud.
“Both Fortinet and Lacework are driven by a culture of innovation and integration,” said Ken Xie, Founder, Chairman of the Board, and CEO at Fortinet. “By integrating Lacework’s leading AI-powered cloud security platform, we’re enhancing our Security Fabric platform to offer customers an even more comprehensive solution. This acquisition reinforces our commitment to delivering consistent security across on-premises and cloud environments.”
“Lacework, partnering closely with our customers, has built a world-class solution to the most complex and varied cloud cyber risks and threats. Our vision to connect across security silos enables teams to work together to produce better security outcomes more quickly,” said Jay Parikh, CEO at Lacework. “Integrated into Fortinet’s platform, we can more deeply embrace these customers to truly solve for their end-to-end security challenges.”
This strategic acquisition aligns with Fortinet’s growth strategy in the Unified SASE market, which includes solutions for securing access and cloud, and underscores the company’s commitment to innovation and integration. As part of the acquisition, Fortinet is committed to a seamless transition for Lacework customers and partners. Backed by Fortinet’s proven leadership and expertise, Lacework customers will be able to benefit from access to Fortinet’s global reach, extensive scale, vast resources, and industry-leading threat intelligence while continuing to leverage their existing security infrastructure investments.
Financial terms of the transaction were not disclosed. The transaction, which is expected to close in the second half of 2024, is subject to required regulatory approvals and other customary closing conditions. Goldman Sachs & Co. LLC is acting as exclusive financial advisor to Lacework. Cooley LLP is acting as legal counsel to Lacework, and Fenwick & West LLP is acting as legal counsel to Fortinet.
SOURCE: GlobeNewsWire