Fortinet Acquires Lacework to Enhance AI-Driven Cloud Security

DateJun 13, 2024

Fortinet, a global cybersecurity solutions provider, has acquired data-driven cloud security company Lacework. This company is recognized for its AI-powered cloud security platform, which integrates critical Cloud Native Application Protection Platform (CNAPP) services and offers both agent-based and agentless data collection. Financial terms of the deal were not disclosed.

Lacework’s platform also includes a proprietary data lake and advanced code security features, earning trust from nearly 1,000 customers for its comprehensive security coverage from code to cloud.

Fortinet, known for its extensive cybersecurity innovation and numerous industry recognitions, delivers its solutions through the Fortinet Security Fabric. This integrated platform covers Secure Networking, AI-driven Security Operations, and Unified Secure Access Service Edge (SASE), including access and cloud security. By incorporating Lacework’s CNAPP capabilities, Fortinet aims to enhance its Unified SASE offering, creating one of the most comprehensive AI-driven cloud security platforms available from a single vendor.

Ken Xie, Fortinet’s Founder, Chairman, and CEO, emphasized that the acquisition aligns with both companies’ culture of innovation and integration. He highlighted that this move will provide Fortinet customers with a more comprehensive security solution, reinforcing the company’s commitment to consistent security across on-premises and cloud environments.

Jay Parikh, CEO of Lacework, expressed excitement about the acquisition, noting that integrating with Fortinet’s platform will enable deeper engagement with customers to address end-to-end security challenges more effectively.

Growth Strategy in the Unified SASE Market

This strategic acquisition supports Fortinet’s growth strategy in the Unified SASE market, enhancing its solutions for securing access and cloud. Fortinet is committed to ensuring a seamless transition for Lacework’s customers and partners, offering them access to Fortinet’s global reach, extensive resources, and industry-leading threat intelligence.

While financial terms were not disclosed, the transaction is expected to close in the second half of 2024, subject to regulatory approvals and customary closing conditions. Goldman Sachs & Co. LLC served as the exclusive financial advisor to Lacework, with Cooley LLP acting as legal counsel for Lacework and Fenwick & West LLP for Fortinet.

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