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CrowdStrike (NASDAQ: CRWD) has announced its acquisition of SecureCircle, a SaaS-based cybersecurity service focused on enhancing Zero Trust security for data on endpoints. The acquisition, valued as an all-cash transaction, is set to close in CrowdStrike's fiscal fourth quarter. By integrating SecureCircle’s technology, CrowdStrike aims to revolutionize data protection, allowing customers to enforce Zero Trust across data states—at rest, in transit, and in use. This strategic move addresses growing issues in data loss prevention and positions CrowdStrike for substantial market growth in the cybersecurity sector.
Positive
Acquisition of SecureCircle enhances CrowdStrike's data protection capabilities.
Integrates Zero Trust security measures at multiple levels: device, identity, and data.
Addresses a projected $3 billion market for data loss prevention technologies.
Aims to improve customer user experience while securing sensitive data.
Negative
Acquisition relies on successful integration of SecureCircle’s technology, presenting potential challenges.
CrowdStrike announces acquisition of SecureCircle to enable customers to gain visibility and control of how data is downloaded, used and shared via the endpoint
SUNNYVALE, Calif.--(BUSINESS WIRE)--
CrowdStrike Holdings, Inc. (Nasdaq: CRWD),a leader in cloud-delivered endpoint and workload protection, today announced it has agreed to acquire SecureCircle, a SaaS-based cybersecurity service that extends Zero Trust security to data on the endpoint. With this acquisition, CrowdStrike will extend its industry leading Zero Trust endpoint security device and identity capabilities to include data. The all cash transaction is expected to close during CrowdStrike’s fiscal fourth quarter, subject to customary closing conditions.
CrowdStrike has redefined security for the cloud era by securing the epicenter of enterprise risk - the endpoint. With SecureCircle’s technology, CrowdStrike will modernize data protection and enable customers to enforce Zero Trust at the device level, the identity level, and at the data level. By joining forces and leveraging SecureCircle’s innovative capabilities, CrowdStrike plans to solve a complex problem that vexes all organizations, data protection, with a simple solution - enforcing Zero Trust control at multiple levels, all delivered through CrowdStrike’s lightweight Falcon agent on the endpoint.
Zero Trust Data Protection Reimagined
The market for data loss prevention (DLP) and related technologies is estimated to be approximately $3 billion in 2021*. Despite billions of dollars invested in legacy DLP tools, organizations continue to experience data breaches at an alarming rate from accidental leaks, ransomware, sophisticated attacks and more. DLP is a failed technology and customers need a solution to protect data without impacting the user experience. With SecureCircle’s technology, CrowdStrike plans to reimagine data protection - by enforcing encryption on data in all three states (in transit, at rest and in use), customers will be able to protect data on, from and to the endpoint. Combined with CrowdStrike Zero Trust Assessment, customers will also be able to control data access and usage policies for each user based on their Zero Trust score, enabling dynamic risk mitigation.
“Data loss prevention has suffered from a lack of innovation and legacy tools have completely failed to live up to the promise of preventing breaches. At the same time, the endpoint has become the focal point for how data is accessed, used, shared and stored,” said George Kurtz, co-founder and chief executive officer of CrowdStrike. “CrowdStrike will be setting a new standard for endpoint-based data protection by connecting Zero Trust enforcement to the device, the user identity and, with this acquisition, the data users are accessing and using.”
“We are excited to join the CrowdStrike family, and integrate SecureCircle’s revolutionary data protection solutions with the industry leader in cloud-delivered endpoint protection. The endpoint in today’s enterprise is everything, and coupling our cloud-native approach to protecting sensitive data with CrowdStrike’s industry leading Zero Trust endpoint security will enable customers to enforce Zero Trust on the endpoint across all levels,” said Jeff Capone, chief executive officer at SecureCircle.
Founded in 2016 by Jeff Capone and Artem Tsai, SecureCircle believes frictionless data security drives business value for customers. End users operate without obstacles, while data is continuously secured against breaches and insider threats, including ransomware exfiltration. Instead of relying on complex reactive measures, SecureCircle simply secures data persistently in transit, at rest, and even in use.
Read a blog from Michael Sentonas, CrowdStrike’s chief technology officer.
*Source: This is a CrowdStrike estimate based on IDC data. IDC, Worldwide Data Loss Technologies Forecast, 2021–2025: Digital Transformation Tools Applied to the Data Protection Task, October 2021 Doc # #US48288521 and IDC, Worldwide Endpoint Encryption and Key Management Infrastructure Software Forecast, 2019–2023, May 2019 Doc # US44773019. CrowdStrike has not independently verified, and makes no representations as to the adequacy, fairness, accuracy or completeness of, any information obtained from these studies.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the closing of the acquisition, the benefits of the acquisition to CrowdStrike and its customers, and estimates of market size and opportunity. You should not place undue reliance 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 risks and uncertainties. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including the satisfaction of the conditions to the closing of the acquisition, the integration of SecureCircle’s technology and operations, and other risks described in CrowdStrike’s most recent Form 10-Q filed with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to CrowdStrike as of the date hereof, and CrowdStrike does not assume any obligation to update any of these forward-looking statements 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.
What is the significance of CrowdStrike's acquisition of SecureCircle?
The acquisition allows CrowdStrike to enhance its Zero Trust security framework by integrating SecureCircle's innovative data protection technologies.
When is CrowdStrike expected to finalize the acquisition of SecureCircle?
The acquisition is expected to close during CrowdStrike’s fiscal fourth quarter, subject to customary closing conditions.
How will this acquisition impact CrowdStrike's market position?
It positions CrowdStrike to address critical challenges in data loss prevention, potentially increasing its market share in cybersecurity services.
What technology does SecureCircle provide to CrowdStrike?
SecureCircle offers a SaaS-based cybersecurity service that enhances Zero Trust security for data on endpoints, focusing on data encryption and access control.
