Fortinet to Acquire Lacework, Enhancing the Industry’s Most Comprehensive Cybersecurity Platform

SUNNYVALE, Calif. and MOUNTAIN VIEW, Calif., June 10, 2024 (GLOBE NEWSWIRE) --  Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced that it has entered into a definitive agreement to acquire Lacework, the data-driven cloud security company.

Lacework delivers a leading AI-powered cloud security platform that seamlessly integrates all critical CNAPP services. With patented AI and machine learning technology, an agent and agentless architecture for data collection, a homegrown data lake, and a powerful code security offering, Lacework is trusted by nearly 1,000 customers to deliver comprehensive security from code to cloud.

Fortinet is renowned for its cybersecurity innovation with more patents than the nearest three competitors combined and over 100 inclusions in industry analyst reports, including recognition in eight Gartner® Magic Quadrant™ reports. Fortinet delivers its solutions as part of the Fortinet Security Fabric, an integrated cybersecurity platform that spans Secure Networking, AI-driven Security Operations, and Unified SASE, which includes access and cloud security.

Fortinet intends to integrate Lacework’s CNAPP solution into Fortinet’s Unified SASE offering, forming one of the most comprehensive, full stack AI-driven cloud security platforms available from a single vendor. This will help customers identify, prioritize, and remediate risks and threats in complex cloud-native infrastructure from code to cloud.

“Both Fortinet and Lacework are driven by a culture of innovation and integration,” said Ken Xie, Founder, Chairman of the Board, and CEO at Fortinet. “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, 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,” said Jay Parikh, CEO at Lacework. “Integrated into Fortinet’s platform, we can more deeply embrace these customers to truly solve for their end-to-end security challenges.”

This strategic acquisition aligns with Fortinet’s growth strategy in the Unified SASE market, which includes solutions for securing access and cloud, and underscores the company’s commitment to innovation and integration. As part of the acquisition, Fortinet is committed to a seamless transition for Lacework customers and partners. Backed by Fortinet's proven leadership and expertise, Lacework customers will be able to benefit from access to Fortinet's global reach, extensive scale, vast resources, and industry-leading threat intelligence while continuing to leverage their existing security infrastructure investments.

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

Additional Resources

• Learn more about this news and Lacework’s cloud native platform in the Fortinet blog.
• Learn more about the state of cloud security in 2024 by reading Fortinet's latest report.
• Visit fortinet.com/trust to learn more about Fortinet innovation, collaboration partners, product security processes, and enterprise-grade products that contribute to delivering proven cybersecurity, everywhere you need it. 
• Learn about Fortinet’s free cybersecurity training, which includes broad cyber awareness and product training. As part of the Fortinet Training Advancement Agenda (TAA), the Fortinet Training Institute also provides training and certification through the Network Security Expert (NSE) Certification, Academic Partner, and Education Outreach programs.
• Learn more about FortiGuard Labs threat intelligence and research and Outbreak Alerts, which provide timely steps to mitigate breaking cybersecurity attacks.
• Read about how Fortinet customers are securing their organizations.
• Follow Fortinet on Twitter, LinkedIn, Facebook, and Instagram. Subscribe to Fortinet on our blog or YouTube.
  

Gartner, Magic Quadrant for Security Service Edge, Charlie Winckless, Thomas Lintemuth, Dale Koeppen, Published 15 April 2024

Gartner, Magic Quadrant for Endpoint Protection Platforms, Evgeny Mirolyubov, Max Taggett, Franz Hinner, Nikul Patel, Published 31 December 2023

Gartner, Magic Quadrant for Security Information and Event Management, Andrew Davies, Mitchell Schneider, Rustam Malik, Eric Ahlm, Published 8 May 2024

Gartner, Magic Quadrant for SD-WAN, Jonathan Forest, Naresh Singh, Andrew Lerner, Karen Brown, Published 27 September 2023

Gartner, Magic Quadrant for Enterprise Wired and Wireless LAN Infrastructure, Tim Zimmerman, Christian Canales, Nauman Raja, Mike Leibovitz, Published 06 March 2024

Gartner, Magic Quadrant for Network Firewalls, Rajpreet Kaur, Adam Hils, Thomas Lintemuth, Published 19 December 2022

Gartner, Magic Quadrant for Access Management, Henrique Teixeira, Abhyuday Data, Nathan Harris, Robertson Pimental, Published 16 November 2023 (Mentioned in the Honorable Mentions section)

Gartner, Magic Quadrant for Single-Vendor SASE, Andrew Lerner, Jonathan Forest, Neil MacDonald, Nat Smith, Charlie Winckless, Published 16 August 2023

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Fortinet

Fortinet (NASDAQ: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere you need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including CERTs, government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs. 

FTNT-F

Copyright © 2024 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiConnect, FortiController, FortiConverter, FortiCWP, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFone, FortiGSLB, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMoM, FortiMonitor, FortiNAC, FortiNDR, FortiPenTest, FortiPhish, FortiPlanner, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM and FortiXDR. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

About Lacework

Lacework keeps organizations secure in the cloud, allowing them to innovate faster with confidence. Cloud security requires a fundamentally new approach and the Lacework platform is designed to scale with the volume, variety, and velocity of cloud data across an organization’s cloud environment: code, identities, containers, and multi-cloud infrastructure. Only Lacework provides Security and Development teams with a correlated and prioritized end-to-end view that pinpoints the largest risks and handful of security events that matter most. Learn more at www.lacework.com.

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Michelle Zimmermann Fortinet, Inc. 408-235-7700 pr@fortinet.com	Peter Salkowski Fortinet, Inc. 408-331-4595 psalkowski@fortinet.com	Brian Greenberg Fortinet, Inc. 408-235-7700 analystrelations@fortinet.com