Radware Launches SkyHawk Security, a Spinoff of Its Cloud Native Protector Business
Tiger Global Management invests $35 million in SkyHawk Security to accelerate growth.
May 3, 2022
PRESS RELEASE
TEL AVIV, Israel, May 3, 2022— Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced the spinoff of its Cloud Native Protector (CNP) business to form a new company called SkyHawk Security. To accelerate
SkyHawk Security’s development and growth opportunities, an affiliate of Tiger Global
Management will make a $35 million strategic external investment, resulting in a valuation of $180 million. Tiger Global Management is a leading global technology investment firm focused on private and public companies in the internet, software, and financial technology sectors.
Skyhawk Security is a leader in cloud threat detection and protects dozens of the world’s leading organizations using its artificial intelligence and machine learning technologies. Its Cloud Native Protector provides comprehensive protection for workloads and applications hosted in public cloud environments. It uses a multi-layered approach that covers the overall security posture of the cloud and threats to individual workloads. Easy-to-deploy, the agentless solution identifies and prevents compliance violations, cloud security misconfigurations, excessive permissions, and malicious activity in the cloud.
“We recognize the growing opportunities in the public cloud security market and are planning to capitalize on them,” said Roy Zisapel, Radware’s president and CEO. “We look forward to partnering with Tiger Global Management to scale the business, unlock even more security value for customers, and position SkyHawk Security for long-term success.”
The spinoff, which adds to Radware’s recently announced strategic cloud services initiative, further demonstrates the company’s ongoing commitment to innovation. SkyHawk Security will have the ability to operate with even greater sales, marketing, and product focus as well as speed and flexibility. Current and new CNP customers will benefit from future product development efforts, while CNP services for existing customers will continue without interruption.
Radware does not expect the deal to materially affect operating results for the second quarter or full year of 2022.
About Tiger Global Management
Tiger Global Management is a leading global technology investment firm that focuses on private and public companies in the software, internet, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas.
About Radware
Radware® (NASDAQ: RDWR) is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection, and availability services to enterprises globally. Radware’s solutions empower enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity, and achieve maximum productivity while keeping costs down. For more information, please visit the Radware website.
Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, Twitter, YouTube, and Radware Mobile for iOS and Android.
©2022 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please
see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.
Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.
The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.
You May Also Like
The State of Attack Surface Management (ASM), Featuring Forrester
Nov 15, 2024Applying the Principle of Least Privilege to the Cloud
Nov 18, 2024The Right Way to Use Artificial Intelligence and Machine Learning in Incident Response
Nov 20, 2024Safeguarding GitHub Data to Fuel Web Innovation
Nov 21, 2024