Fortinet has announced its definitive agreement to acquire Lacework with the goal of enhancing its Security Fabric platform.
By integrating Lacework’s cutting-edge AI-driven cloud security into Fortinet’s Unified SASE offering, the merger is set to create one of the most advanced, full-stack cloud security platforms available.
Although the financial terms of the transaction were not disclosed, the acquisition is a strategic move to bolster Fortinet’s offerings in the Unified SASE market.
Fortinet is renowned for its extensive cybersecurity innovations, boasting more patents than 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, covering Secure Networking, AI-driven Security Operations, and Unified SASE.
Lacework stands out with its AI-powered cloud security platform that includes a comprehensive suite of CNAPP services. It 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.
The strategic acquisition is aligned with Fortinet’s growth strategy within the Unified SASE market, emphasizing solutions that secure access and cloud environments. The integration of Lacework into Fortinet’s platform is aimed at providing 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, while Cooley LLP and Fenwick & West LLP are 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 said, “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 said, “Integrated into Fortinet’s platform, we can more deeply embrace these customers to truly solve for their end-to-end security challenges.”
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