Posted by Sunnyvale, USA: CrowdStrike said that it has completed the $400 million Humio acquisition. The cybersecurity company said in a statement on Friday.
Humio is a 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 CEO – CrowdStrike.
According to Kurtz, Humio will enhance CrowdStrike’s ability to solve real-world customer problems with its cloud-native platform. Humio will be adding its index-free data ingestion and analysis capabilities for both first- and third-party data.
“With Humio acquisition, we are accelerating our XDR capabilities to cloud speed, redefining the industry standard for modern XDR,” added Kurtz.
“XDR has already become one of those terms that has seen a huge increase in popularity in a short time. But in practice, similar to the early overuse of ML — it is being used to mean many different things,” CrowdStrike CTO Michael Sentonas wrote in a blog post last month.
CrowdStrike and Humio share a vision that contextual data can help solve critical enterprise problems, across cybersecurity and beyond according to Sentonas.
“After we close this transaction, our joint forces will deliver a combination of capabilities that are truly unmatched in the industry. I am very excited for what our combined future holds as we will quickly and significantly extend the use cases already addressed by the Humio platform,” added Sentonas.
Geeta Schmidt, Kresten Karab Thorup and Christian Hvitved had co-founded Humio. CEO Schmidt, CTO Thorup and Chief engineer Hvitved will be joining CrowdStrike’s management.
The NYSE listed company paid approximately $352 million in cash (net of cash acquired). And $40 million in stock and options, subject to vesting conditions, to acquire Humio.