CrowdStrike to acquire Israeli co Flow Security for $200m

US cybersecurity giant CrowdStrike Holdings (Nasdaq: CRWD) has announced it has agreed to acquire Israeli cloud data runtime security solution company Flow Security. The acquisition will enhance CrowdStrike’s cloud security offering with comprehensive real-time data protection spanning endpoint and cloud environments, delivering a cloud data protection platform that secures data in all states. No financial details were disclosed but estimates are that CrowdStrike will pay $200 million. “Globes” first reported talks for the deal in January. 

Tel Aviv-based Flow Security was founded by CEO Jonathan Roizin and CTO Rom Ashkenazi. Flow Security is a relatively small company. Flow Security is a relatively small company with about 30 employees who will all join CrowdStrike. The company has raised a total of $15 million in two seed financing rounds, the most recent of which was in August 2022.

Roizin said, “Since our founding, Flow Security has focused on removing the complexity of securing the massive amounts of critical data businesses manage daily. We saw that the market lacked a solution that provided comprehensive protection of the flow of data as it traversed SaaS applications, on-prem, cloud infrastructure, third-party APIs, etc., and that this lack of visibility and control presented a critical risk to the enterprise. We look forward to working with the cloud security leader, CrowdStrike, to bring to market the most extensive cloud data protection solution.”

CrowdStrike cofounder and CEO George Kurtz said, “CrowdStrike was born in the cloud and pioneered cloud-native cybersecurity. We have been consistently recognized as the strategic leader in cloud security by delivering the outcomes customers need most from a single, unified platform. With the acquisition of Flow Security, we’re expanding our cloud leadership by protecting data in all states as it flows through the cloud, and are redefining the future of data protection by securing data from code, to application, to device and cloud.”

Last September, CrowdStrike bought Israeli cloud security posture management company Bionic.ai for an estimated $350 million.

Published by Globes, Israel business news – en.globes.co.il – on March 6, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.