CrowdStrike to Acquire Bionic To Extend Cloud Security Leadership With Industry's Most Complete Code-To-Runtime Cybersecurity Platform; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
CrowdStrike (NASDAQ:CRWD) has announced its intention to acquire Bionic, a pioneer in Application Security Posture Management (ASPM). The acquisition will extend CrowdStrike's Cloud Native Application Protection Platform with ASPM, providing comprehensive risk visibility and protection across the entire cloud estate. The deal was announced following CrowdStrike's Q2 FY24 financial results, which showed a record quarter for its fast-growing cloud security business. The acquisition is expected to close during CrowdStrike's fiscal third quarter.
September 19, 2023 | 1:02 pm
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CrowdStrike's acquisition of Bionic is expected to strengthen its position in the cloud security market. The deal follows a record quarter for CrowdStrike's cloud security business.
The acquisition of Bionic will extend CrowdStrike's cloud security capabilities, potentially attracting more customers and increasing revenues. This, coupled with the company's recent record quarter, suggests a positive short-term impact on the stock.
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