Fortinet to Acquire Lacework, Enhancing Cybersecurity Platform

Fortinet, a global cybersecurity provider known for its extensive patent portfolio and frequent recognition in industry analyst reports, has announced its acquisition agreement with Lacework, a cloud security company.

Lacework specializes in AI-powered cloud security, offering a platform that integrates critical CNAPP services. Their technology includes both agent and agentless architectures for data collection, a proprietary data lake, and robust code security capabilities. Trusted by nearly 1,000 customers, Lacework provides comprehensive security solutions covering all aspects from code to cloud.

Fortinet plans to integrate Lacework’s CNAPP solution into its existing portfolio, enhancing its cybersecurity offerings. This integration aims to create one of the most comprehensive AI-driven cloud security platforms available from a single vendor. It will enable customers to effectively manage risks and threats across complex cloud-native infrastructures, spanning from development code to operational environments.

“Both Fortinet and Lacework are driven by a culture of innovation and integration. 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.” - Ken Xie, Founder, Chairman of the Board, and CEO at Fortinet.

“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. Integrated into Fortinet’s platform, we can more deeply embrace these customers to truly solve for their end-to-end security challenges.” - Jay Parikh, CEO at Lacework.

This acquisition aligns with Fortinet’s growth strategy and demonstrates the company’s focus on innovation and integration. Fortinet is committed to ensuring a smooth transition for Lacework customers and partners. With Fortinet's support, Lacework customers will gain access to Fortinet's global reach, extensive scale, vast resources, and industry-leading threat intelligence while maintaining their existing security infrastructure.

Financial terms of the transaction were not disclosed. The transaction, expected to close in the second half of 2024, is subject to regulatory approvals and customary closing conditions. Goldman Sachs & Co. LLC is serving as the 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.

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