Fortinet has announced a definitive agreement to acquire Lacework, aiming to enhance its Security Fabric platform.
The integration of Lacework’s advanced AI-driven cloud security into Fortinet’s Unified SASE offering will create one of the most sophisticated, full-stack cloud security platforms available.
While the financial details of the transaction remain undisclosed, the acquisition is a strategic move to strengthen Fortinet’s position in the Unified SASE market.
Fortinet is known for its extensive cybersecurity innovations, holding more patents than all its closest competitors combined. It has been featured in over 100 industry analyst reports and is recognized in multiple Gartner® Magic Quadrant™ reports. Fortinet’s solutions are integrated into its Fortinet Security Fabric, which covers Secure Networking, AI-driven Security Operations, and Unified SASE.
Lacework is distinguished by its AI-powered cloud security platform, offering a comprehensive suite of CNAPP services. Its platform features patented AI and machine learning technology, both agent and agentless data collection architectures, a proprietary data lake, and an extensive code security offering, making it a trusted choice for nearly 1,000 customers.
This strategic acquisition aligns with Fortinet’s growth strategy within the Unified SASE market, focusing on solutions that secure access and cloud environments. Integrating Lacework into Fortinet’s platform aims to provide a seamless transition for existing customers and partners, ensuring continuity and enhanced security capabilities.
Goldman Sachs & Co. LLC is serving as the exclusive financial advisor to Lacework, with Cooley LLP and Fenwick & West LLP providing legal counsel to Lacework and Fortinet, respectively. The transaction is expected to close in the second half of 2024, pending regulatory approvals and customary closing conditions.
Fortinet Founder, Chairman of the Board, and CEO, Ken Xie, stated, “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 CEO Jay Parikh added, “Integrated into Fortinet’s platform, we can more deeply embrace these customers to truly solve for their end-to-end security challenges.”
Source: fintech.global
