Recently, Fortinet, a leading cybersecurity solutions vendor with a global footprint, has completed the purchase of Lacework, an artificial intelligence (AI) enabled cloud-native application protection platform (CNAPP). This acquisition plan is expected to enhance Fortinet’s cybersecurity platform by incorporating Lacework cloud security strength, and innovative AI features.
This move supports Fortinet’s strategic direction of leveraging AI and cloud security, which are both promising industries in the modern global marketplace. Fortinet’s Unified SASE, with Lacework AI and machine learning incorporated into the platform, gives clients powerful new tools for cataloging, classifying, and managing problematic risks and threats on cloud infrastructure.
Ken Xie, Founder, Chairman, and CEO of Fortinet, emphasized the significance of this acquisition, stating, “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.”
Specifically, Lacework, founded in 2015, has positioned itself as one of the pioneers and leaders in cloud security enhancement by using such technologies as ML, anomaly detection, and behavioral analytics. It is currently serving 958 clients and works with such recognized names as Snowflake, LendingTree, and Omada Health. Lacework’s platform is for hybrid cloud defense from code to cloud environments and offers post-Vendor risk management from some of the biggest networking and IT companies.
Lacework is headquartered in San Jose, California and Fortinet anticipates completing the acquisition in the second half of the year, and it has fine plans to transition Lacework customers and partners. Although the details of the business-side of the transaction were not revealed it is this another significant development in the company’s strategic development based on innovation and M&A which include the recent ones involving DevOps security start up Sken.ai and cloud security and networking company OPAQ Networks, of the USA.
Fortinet, which wrapped up its fiscal year 2023 with $5.3 billion in revenue, reflecting a 20.1% year-over-year increase, aims to provide modern enterprises with the tools needed to manage risk and reduce threats across the entire IT landscape, from data centers to the cloud and out to the edge.
The merger of Fortinet’s wide cybersecurity suite and Lacework’s AI-based cloud security business is envisioned to provide beyond market security offerings suited to the current needs of digital transformation. As organizations move further into cloud computing and blend their environments into the hybrid environment, the need for sound and efficient security mechanisms cannot be overemphasized.
Lacework’s AI-based platform has abilities in machine learning, anomaly detection, and behavioral analysis that will augment current Fortinet security solutions to protect the customers’ cloud environment. In addition to boosting the presence of Fortinet in the cloud security space, this acquisition benefits from placing the firm within the competitive area of AI-driven cybersecurity.
With the help of the Lacework platform, Fortinet expects to ensure Unity in its Secure Access Service Edge (SASE) product offering: include cloud security in the SASE service to provide a single-level security experience to clients when moving from in-house settings to clouds and other environments. This integration will help customers incorporate and utilize the benefits of AI towards analysis of risks and avoid the most detrimental vulnerabilities to enhance the security of cloud systems.
With cloud technologies gaining ground over years, the demand for enhanced security solutions that could respond to new threats at the same level as the speed at which the cloud technologies are being adopted also rises. The purchase of Lacework will make it possible for Fortinet to underline that it will not stand still, as well as to guarantee its customers’ access to the newest and most efficient security technologies.