CrowdStrike Completes Acquisition of Humio

Rhea-AI Summary

CrowdStrike Holdings, Inc. (Nasdaq: CRWD) has completed the acquisition of Humio, a cloud log management provider, for approximately $392 million, which includes $352 million in cash and $40 million in stock and options. This strategic move aims to enhance CrowdStrike’s cloud security capabilities and improve data ingestion and analysis for customers. The integration of Humio is expected to accelerate the development of CrowdStrike’s XDR capabilities and redefine industry standards.

Positive

• Acquisition of Humio enhances CrowdStrike's cloud security and data analysis capabilities.
• Total value of acquisition is approximately $392 million, supporting strategic growth.
• Strengthens XDR capabilities, potentially leading to increased customer satisfaction and retention.

Negative

• Integration challenges could arise from merging Humio's technology with CrowdStrike's systems.

CrowdStrike Holdings, Inc. (Nasdaq: CRWD), a leader in cloud-delivered endpoint and cloud workload protection, today announced it has completed its acquisition of Humio, a leading provider of high-performance cloud log management and observability technology.

“We are excited to welcome the Humio team to CrowdStrike as we join forces to stop breaches, advance our Security Cloud, and extend our ability to address non-security use cases,” said George Kurtz, co-founder and chief executive officer of CrowdStrike. “Humio will enhance CrowdStrike’s ability to solve real-world customer problems with its cloud-native platform by adding index-free data ingestion and analysis capabilities for both first- and third-party data. With the acquisition of Humio, we are accelerating our XDR capabilities to cloud speed, re-defining the industry standard for modern XDR.”

Humio co-founder and CEO, Geeta Schmidt, co-founder and CTO, Kresten Krab Thorup, and co-founder and chief engineer, Christian Hvitved, are among the key staff joining CrowdStrike. CrowdStrike paid approximately $352 million in cash (net of cash acquired) and $40 million in stock and options, subject to vesting conditions, to acquire Humio.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate”, “expect”, “hope”, “intend”, “may”, “might”, “should”, “would”, “will”, “understand” and similar words are intended to identify forward looking statements. These forward-looking statements include but are not limited to, statements regarding the benefits of Humio’s technology to CrowdStrike and its customers. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including the risk that problems may arise in integrating Humio’s business and technology.

Additional risks and uncertainties that could affect the forward-looking statements in this press release are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in our filings and reports with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the quarter ended October 31, 2020.

You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About CrowdStrike Holdings

CrowdStrike provides cloud-delivered endpoint and cloud workload protection. Leveraging artificial intelligence (AI), the CrowdStrike Falcon® platform protects customers against cyberattacks on endpoints and workloads on or off the network by offering visibility and protection across the enterprise.

© 2021 CrowdStrike, Inc. All rights reserved. CrowdStrike and CrowdStrike Falcon® are among the trademarks of CrowdStrike, Inc.

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FAQ

What is the purpose of CrowdStrike's acquisition of Humio?

The acquisition aims to enhance CrowdStrike's cloud security capabilities and improve data ingestion and analysis for both first- and third-party data.

What is the total cost of the Humio acquisition?

CrowdStrike acquired Humio for approximately $392 million, consisting of $352 million in cash and $40 million in stock and options.

When was the acquisition of Humio completed?

The acquisition of Humio was completed on March 5, 2021.

How will the acquisition impact CrowdStrike's XDR capabilities?

The acquisition is expected to accelerate the development of CrowdStrike's XDR capabilities, potentially redefining industry standards.

Who are the key personnel joining CrowdStrike from Humio?

Key personnel from Humio include its co-founder and CEO Geeta Schmidt, co-founder and CTO Kresten Krab Thorup, and co-founder and chief engineer Christian Hvitved.