Global PR Lead
VP, Investor Relations
Cloud-native application protection capabilities provide customers with real-time threat detection for cloud infrastructure and workloads
SEATTLE -- F5 (NASDAQ: FFIV), today announced a definitive agreement to acquire privately held Threat Stack, a leader in cloud security and workload protection. F5’s application and API protection solutions combined with Threat Stack’s cloud security capabilities and expertise will enhance visibility across application infrastructure and workloads, making it easier for customers to adopt consistent security in any cloud.
“Applications are the backbone of today’s modern businesses, and protecting them is mission critical for our customers,” said Haiyan Song, EVP of Security at F5. “Threat Stack brings technology and talent that will strengthen F5’s security capabilities and further our adaptive applications vision with broader cloud observability and actionable security insights for customers.”
Threats surrounding today’s immersive digital experiences are growing and applications are a focal point for cybercriminals – attacks, fraud, and disrupted customer experiences cost businesses more than $100 billion a year. These experiences are increasingly powered by applications distributed across multiple environments and deeply interconnected through APIs. This significantly expands potential entry points for attackers and requires greater visibility and context to identify and neutralize threats. Organizations face the daunting challenge of accelerating digital innovation to stay competitive while mitigating a widening range of sophisticated adversaries and growing complexity.
F5’s mission is to power adaptive applications that enable customers to secure and deliver extraordinary digital experiences. A core tenet of adaptive applications is their capacity to protect themselves by detecting and mitigating threats in real time. Threat Stack’s proactive risk identification and real-time threat detection combined with the breadth of F5’s application insights and controls will accelerate the delivery of this capability for our customers.
F5 will acquire all issued and outstanding shares of Threat Stack, a private company headquartered in Boston, for $68 million in purchase consideration, to be financed with balance sheet cash. The transaction is expected to be immaterial to F5’s financial results, adding approximately $15 million in revenue for fiscal year 2022 with no change to F5’s previously stated operating margin targets for fiscal year 2022.
The acquisition is subject to customary closing conditions and is expected to close in F5’s first quarter fiscal year 2022, ending December 31, 2021.
Foros acted as financial advisor to F5 on this transaction. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to F5. Boston Meridian Partners acted as strategic advisor and Choate, Hall & Stewart LLP provided legal counsel to Threat Stack.
F5 (NASDAQ: FFIV) is a multi-cloud application security and delivery company that enables our customers—which include the world’s largest enterprises, financial institutions, service providers, and governments—to bring extraordinary digital experiences to life. For more information, go to f5.com. You can also follow @F5 on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies.
F5 is a trademark, service mark, or tradename of F5 Networks, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.
Threat Stack is the leader in cloud security and compliance for infrastructure and applications, helping companies securely leverage the business benefits of the cloud with proactive risk identification and real-time threat detection across cloud workloads. The Threat Stack Cloud Security Platform® delivers full stack security observability across the cloud management console, host, container, orchestration, managed containers, and serverless layers. Threat Stack provides the flexibility to consume telemetry within existing security workflows — or manages it with you through the Threat Stack Cloud SecOps Program℠ so you can respond to security incidents and improve your organization’s cloud security posture over time.
For more information or to schedule a free demo, visit threatstack.com.
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