Summary: CrowdStrike is acquiring Israeli cybersecurity startup Adaptive Shield for approximately $300 million, enhancing its capabilities in SaaS security. The acquisition aims to address the growing complexities and risks associated with cloud environments and SaaS applications.
Threat Actor: CrowdStrike | CrowdStrike
Victim: Adaptive Shield | Adaptive Shield
Key Point :
- CrowdStrike’s acquisition of Adaptive Shield aims to enhance identity-based protection in cloud environments.
- Adaptive Shield provides solutions for monitoring and controlling security in SaaS applications, addressing the increased risks from widespread SaaS adoption.
- The deal follows Adaptive Shield’s previous funding rounds, including a $30 million Series A led by Insight Partners.
- CrowdStrike’s market cap has risen significantly despite past software outages, reflecting strong investor confidence.
Cybersecurity giant CrowdStrike is acquiring Israeli cyber startup Adaptive Shield. While the companies have not disclosed the terms of the deal, Calcalist has learned that CrowdStrike will pay around $300 million for the Israeli company.
Adaptive Shield was founded in late 2019 by Maor Bin and Jony Shlomoff. The company raised $10 million from financial giant Blackstone through its growth fund BXG last year. Blackstone, already a client of Adaptive Shield, participated in this investment as part of a strategic agreement to integrate the company’s cybersecurity technology into its own operations.
In October 2021, Adaptive Shield raised $30 million in a Series A round led by Insight Partners, with participation from other investors, including Okta Ventures and Vertex Ventures Israel, headed by General Partner Emanuel Timor.
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Despite a significant outage in July due to a faulty update to its Falcon Sensor security software, CrowdStrike’s share price has risen nearly 25% this year, giving it a market cap of approximately $75 billion.
Adaptive Shield assists information security teams by monitoring and controlling all aspects of security in cloud environments, continuously identifying potential attacks. Its SSPM and ITDR solutions help security teams manage the organization’s applications, identities, and detect unusual behavior within the SaaS ecosystem.
“CrowdStrike was built to tackle the toughest cybersecurity challenges, and we drive relentless innovation based on what our customers need to stay ahead of modern threats,” said George Kurtz, CEO and founder, CrowdStrike. “As SaaS and AI adoption grows, every new application brings additional complexity and the risk of misconfigurations across human and non-human accounts that create openings for sophisticated attacks. With the acquisition of Adaptive Shield, CrowdStrike will continue to set the standard for identity-based protection in the cloud, delivering best-in-class SaaS protection from the Falcon platform.”
“Widespread adoption of SaaS applications has rapidly expanded the enterprise attack surface, as shared responsibility models and fragmented security controls make SaaS environments a prime target,” said Maor Bin, CEO and co-founder, Adaptive Shield. “Our mission perfectly complements CrowdStrike, stopping SaaS breaches while further accelerating consolidation on cybersecurity’s most comprehensive platform. I’m incredibly proud of our team for building the most advanced SaaS security solution, defining the market.”
Source: https://www.calcalistech.com/ctechnews/article/s1zuniozkx