Cloudflare, Inc. - NET STOCK NEWS

Cloudflare (NYSE: NET) has completed its acquisition of Area 1 Security, enhancing its Zero Trust security platform with advanced email protection. This merger addresses critical security threats, including phishing, which costs U.S. businesses over $2.4 billion annually. Cloudflare aims to provide an integrated approach to email security, enabling organizations to block various threats easily. Area 1's technology will be available immediately for enterprise customers, fortifying Cloudflare's global network and streamlining security for organizations.

Cloudflare (NYSE: NET) and CrowdStrike (NASDAQ: CRWD) announce an expansion of their partnership to enhance Zero Trust security solutions for businesses. The integration of Cloudflare's Zero Trust platform with CrowdStrike's Falcon Zero Trust Assessment (ZTA) aims to provide secure access and robust controls for users, regardless of their location. This collaboration addresses the challenges businesses face in adopting Zero Trust practices, leveraging CrowdStrike's threat intelligence and Cloudflare's global network capabilities.

Cloudflare, Inc. (NYSE: NET) has launched the Cloudflare API Gateway, aimed at simplifying the security and management of APIs. With growing API usage generating over 50% of all HTTP requests on Cloudflare's network, the company targets challenges related to API security. The API Gateway enables businesses to identify and secure unmanaged APIs, manage API requests effectively, and leverage advanced machine learning for real-time protection. Key features include automatic detection of API abuse, offloading of authentication processes, and seamless API management, set against a backdrop of increasing cyber threats.

Cloudflare (NYSE: NET) has been recognized as a leader in the IDC MarketScape: Worldwide Commercial CDN 2022 Vendor Assessment, highlighting its strong strategy for technology investment and network expansion. The report emphasizes Cloudflare's global network, which spans over 250 cities and interconnects with more than 10,000 networks, achieving a 25% growth in network size and doubling its capacity to 121Tbps in two years. The company’s enterprise security solutions, particularly its Zero Trust suite, are noted for meeting the security needs of a distributed workforce.

Cloudflare (NYSE: NET) announces plans to introduce enterprise-grade email security tools following its acquisition of Area 1 Security. This initiative aims to provide customers with robust protection against email threats, particularly phishing and malware, with an easy one-click onboarding process. The email security solutions will cater to organizations of all sizes and integrate with existing security systems, enhancing overall cybersecurity. Customers can expect initial availability for enterprise plans post-acquisition closure, with broader accessibility expected in the months ahead.

The Critical Infrastructure Defense Project is a collaborative initiative by Cloudflare (NYSE: NET), CrowdStrike (NASDAQ: CRWD), and Ping Identity (NYSE: PING) to offer free cybersecurity services to U.S. hospitals and utilities. This project aims to enhance defenses against rising cyber threats amid the geopolitical landscape, particularly following heightened risks like the Russian invasion of Ukraine. Eligible organizations will gain access to a suite of Zero Trust solutions, endpoint protection, and tailored security roadmaps to bolster their cybersecurity measures.

Cloudflare (NYSE: NET) announced its agreement to acquire Area 1 Security for approximately $162 million, with 40-50% of the payment in stock. This acquisition will enhance Cloudflare's email security capabilities within its Zero Trust framework by integrating Area 1's anti-phishing platform, which blocked over 40 million phishing threats in 2021. The deal anticipates closing early in Q2 2022. This strategic move underscores the growing need for effective email security as phishing remains a major cyber threat, costing U.S. businesses more than $1.8 billion annually.

Cloudflare (NYSE: NET) partners with At-Bay to provide three free months of cybersecurity services to existing insurance customers. This offering aims to enhance security measures amidst rising cyber threats. Cloudflare's web application firewall (WAF) allows businesses to mitigate risks related to vulnerabilities like Log4j. Both companies emphasize the importance of adopting robust security practices, noting that while WAFs are beneficial, they do not replace the need for software updates. This initiative is part of an ongoing effort to improve access to cyber insurance for businesses.

Cloudflare, Inc. (NYSE: NET) has acquired Vectrix, enhancing its Zero Trust platform, Cloudflare One. This acquisition enables security teams to gain visibility and control over SaaS applications like Google Workspace and AWS, addressing security challenges due to increased SaaS usage. The deal is strategically significant as it integrates Vectrix's API-driven cloud access security broker functionality into Cloudflare’s offerings. Gartner predicts global spending on SaaS will rise from $174B in 2022 to over $279B by 2025, underscoring the growing need for enhanced security solutions.