Fortinet closes on Lacework acquisition

Fortinet has completed its acquisition of cloud security firm Lacework initially announced on June 10 and has said it aims to extend its secure access service edge platform with Lacework’s advanced capabilities, CRN reports.

Fortinet said the acquisition is set to incorporate Lacework's "cloud security and cloud-native application protection platform" technologies into its own SASE offering, and "will result in the most comprehensive, full-stack AI-driven cloud security platform available from a single vendor," according to Fortinet CEO Ken Xie.

Lacework’s technology, which is supported by 225 mostly cloud security- and AI-related patents and patent applications, focuses on its data-powered cloud security platform, which gathers and analyzes data from various cloud environments to offer insights on threat prioritization and other security concerns.

Analysts noted that the deal would "provide an updated end-to-end (albeit fragmented) portfolio of multicloud-capable cloud and application security solutions to its customers." Although the terms of the deal remain undisclosed, analysts estimated the acquisition to be valued between $200 million and $230 million.