CrowdStrike ( CRWD Quick Quote CRWD - Free Report) recently announced that it has signed an agreement to acquire the San Francisco-based external attack surface management (EASM) platform provider, Reposify. The buyout is anticipated to conclude in third-quarter fiscal 2023 (August-October 2022), subject to customary closing conditions. Reposify had secured a place in Gartner’s 2021 ‘Emerging Vendor’ list for its EASM software-as-a-service platform, which spots exposed and vulnerable Internet-facing assets of an entity and protects them from attacks in real time. CrowdStrike will combine its Falcon Threat Intelligence solution portfolio with Reposify's EASM platform to deliver an adversarial view of enterprise risks across internal and external attack surfaces. Reposify Complements CrowdStrike’s Product Portfolio
CrowdStrike’s Falcon Intelligence solution integrates threat intelligence into endpoint protection, automatically performing investigations, speeding response and enabling cyber security teams to transform from a reactive to a predictive and proactive state. The EASM solution from Reposify, on the other hand, is mainly focused on reducing the risk exposure of the external assets of the enterprises, preventing shadow IT.
The latest buyout will be a strategic fit for CrowdStrike as Reposify’s product portfolio complements the company's existing Security and IT Operations product suite. It will offer enterprises a complete view of their external attack surface with just a click. CrowdStrike is always looking for strategic acquisitions to boost its product portfolio and drive top-line growth. In November 2021, it acquired SecureCircle, a SaaS-based cybersecurity service that extends Zero Trust security to data on the endpoint. The same year in March, the company acquired high-performance cloud log management technology provider, Humio, to fortify its Extended Detection and Response capabilities. In September 2020, CrowdStrike completed the acquisition of identity theft protection provider, Preempt Security, which has enhanced the company’s Zero Trust security capabilities.
CrowdStrike is benefiting from growing demand for its cyber-security solutions, owing to the slew of data breaches and the increasing necessity for security and networking products amid the ongoing remote working trend across the globe. The company’s rich experience in the security space and continued delivery of mission-critical solutions is aiding it to maintain and grow its market share.
The company has been witnessing top and bottom-line growth for the past several quarters, owing to the strong demand environment for cyber-security solutions along with its sustained focus on enhancing product offerings through in-house research and development, and acquisitions. In the last reported quarter, the company’s revenues soared 58% year over year to $535.2 million while non-GAAP earnings jumped over three-fold to 36 cents per share from 11 cents reported in the year-ago quarter. Shares of CRWD have lost 34.9% in the past year. Zacks Rank & Stocks to Consider
CrowdStrike currently carries a Zacks Rank #3 (Hold).
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