Longtime cybersecurity vendor Fortinet (NASDAQ: FTNT) on Monday announced plans to acquire Lacework, a late-stage cloud security startup that was once listed as a “unicorn” company valued north of $1 billion.
Financial terms of the transaction were not released.
Lacework, founded in January 2015 by Sanjay Kalra (CPO) and Vikram Kapoor (CTO) with a plan to simplify and automate the security of enterprise cloud deployments, raised a record-breaking $1.9 billion in multiple funding rounds. The company’s investors include Google Ventures, Altimeter Capital and Sutter HIll Ventures.
For Fortinet, the deal immediately modernizes its cloud security product line, adding well-baked cloud data security technologies from Lacework that’s already deployed at approximately 1,000 customers worldwide.
Once the deal closes, Fortinet said the plan is to integrate Lacework’s CNAPP product into the Fortinet Unified SASE offering to help customers identify, prioritize, and remediate risks and threats in cloud-native infrastructure from code to cloud.
“Specifically, the combination will allow customers to protect what’s happening inside the cloud app along with what’s happening between the app and the outside world,” according to Fortinet executive John Maddison.
As part of the acquisition, Fortinet said it will work on a seamless transition for Lacework customers and partners.
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