Application network company F5 has announced that it has acquired Threat Stack, a Boston-based cloud security and compliance startup, for $ 68 million.
The deal, which comes months after F5 multi-cloud management startup bought Volterra for $ 500 million, sees the 25-year-old company looking to strengthen its cloud security portfolio as applications become a growing focus for cybercriminals. Businesses lose more than $ 100 billion a year in attacks targeting digital experiences, says F5, and these experiences are increasingly driven by applications distributed across multiple environments and interconnected via APIs.
Founded in November 2012, Threat Stack has since raised more than $ 70 million over six funding rounds, including a $ 45 million Series C round led by F-Prime Capital Partners and Eight Roads Ventures, specializing in cloud security for applications and provides customers with real-time threat detection for cloud infrastructure and workloads. Unlike many cloud security tools that infiltrate a hack, Threat Stack takes a more proactive approach, warns organizations of all known vulnerabilities, and provides a report on the holes that need to be plugged.
The startup’s intrusion detection platform, the Threat Stack Cloud Security Platform, works across cloud, hybrid cloud, multi-cloud, and containerized environments, and is perhaps best known for its Slack integration that warns DevOps teams of security concerns in realtime. Threat Stack has a number of customers with big names, according to their website, including Glassdoor, Ping Identity and Proofpoint.
F5 says integrating its application and API protection solutions with Threat Stack’s cloud security capabilities and expertise will improve visibility across application infrastructure and workloads, making it easier for customers to consistently take security across any cloud.
“Applications are the backbone of today’s modern enterprise, and protecting them is mission-critical for our customers,” said Haiyan Song, Security EVP at F5. “Threat Stack brings technology and talent that will enhance F5’s security capabilities and further our customized application vision with broader cloud perception and convenient security insights for customers.”
The acquisition, which is expected to close in the fiscal year 2022 of the first quarter of F5, is subject to closing conditions.