Key Highlights
- Radware, a leader in cyber security and application delivery solutions, has announced the creation of a new company named SkyHawk Security through the spinoff of its Cloud Native Protector (CNP) business.
- To support the growth and expansion of SkyHawk Security, Tiger Global Management, a renowned technology investment firm specializing in internet, software, and fintech companies, will be making a $35 million strategic investment, valuing the new company at $180 million.
Radware, a leader in cyber security and application delivery solutions, has announced the creation of a new company named SkyHawk Security through the spinoff of its Cloud Native Protector (CNP) business.
An affiliate of Tiger Global Management will provide a $35 million strategic external investment to support the growth and development of SkyHawk Security, valued at $180 million. Tiger Global Management is a prominent global investment firm in the technology sector, specializing in private and public companies operating in the areas of the internet, software, and fintech.
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About SkyHawk Security
SkyHawk Security is a top player in cloud threat detection, serving many of the world’s leading organizations through its innovative AI and machine learning technologies. Its Cloud Native Protector provides complete protection for public cloud-hosted workloads and applications.
The solution implements a multi-layered approach to safeguard the overall security posture of the cloud and address potential threats to individual workloads. It is easy to deploy, requiring no agents, and it detects and prevents compliance violations, cloud security misconfigurations, excessive permissions, and malicious activity in the cloud.
“The public cloud security market holds vast potential, and we aim to make the most of it,” said Roy Zisapel, Radware’s president and CEO. “We are excited to partner with Tiger Global Management to grow the business, offer more value for customers, unlock even more security, and position SkyHawk Security’s long-term success.”
The spinoff of SkyHawk Security, in addition to Radware’s recent strategic cloud services initiative, showcases the company’s unwavering commitment to innovation. As a result, SkyHawk Security will have increased opportunities to enhance its sales, marketing, product focus and speed, and agility.
Both current and new customers of the Cloud Native Protector (CNP) business will benefit from future product advancements, and existing CNP customers will not experience any service disruptions.
Radware does not anticipate the deal to significantly impact its operating results for the second quarter or the full year of 2022.
