Cybersecurity giant CrowdStrike (NASDAQ: CRWD) on Tuesday announced plans to acquire of Flow Security, a cloud data runtime security solution, to enhance its cloud security capabilities and offer protection for data in motion and at rest for both endpoint and cloud environments.
Flow’s Data Security Posture Management (DSPM) platform discovers, categorizes and secures sensitive information both at rest and in motion, across public clouds, on-premises infrastructure, and SaaS platforms.
Post-acquisition, CrowdStrike plans to integrate Flow Security’s technology with the CrowdStrike Falcon XDR platform, aiming to provide an advanced cloud data protection platform.
The terms of the acquisition were not disclosed, but CrowdStrike says the deal will be paid predominantly in cash, with a portion delivered in the form of equity subject to vesting conditions.
Tel Aviv-based Flow Security was founded by Jonathan Roizin (CEO) and Rom Ashkenazi (CTO), and has raised roughly $15 million in seed funding.
The acquisition is expected to close during CrowdStrike’s fiscal first quarter, subject to customary closing conditions.
CrowdStrike shares surged more than 23% in after-hours trading on Tuesday after the company reported strong earnings for the quarter ending Jan. 31, with net income of $54 million on $845 million in revenue.
“CrowdStrike delivered an exceptionally strong and record fourth quarter with net new ARR growth accelerating to 27% year-over-year, reaching a new high of $282 million and ending ARR growing 34% year-over-year to reach $3.44 billion,” said George Kurtz, CrowdStrike’s president, chief executive officer and co-founder.
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