US cybersecurity company CrowdStrike Holdings has entered an agreement to acquire UK-based cloud log management firm Humio for around $400m.
The deal is aimed at expanding Crowdstrike’s ability to ingest and correlate data from logs, feeds and applications to spot potential cyber threats.
It is expected to close in CrowdStrike’s fiscal first quarter, subject to customary closing conditions.
CrowdStrike provides endpoint and cloud workload protection to thousands of customers globally. The company said it would integrate Humio’s technology into its eXtended Detection and Response capabilities.
Founded in 2016, Humio provides analytics software that can comb through unstructured and sem-structured data.
“We conducted a thorough market review of existing solutions and were amazed by Humio’s mature technology architecture and proven ability to deliver at scale,” said George Kurtz, co-founder and chief executive officer of CrowdStrike.
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“The combination of real-time analytics and smart filtering built into CrowdStrike’s proprietary Threat Graph and Humio’s blazing-fast log management and index-free data ingestion dramatically accelerates our XDR capabilities beyond anything the market has seen to date.”
In its most recent reported quarter, ended 31 October, the Californian firm added 1,186 net new subscription customers. Annual recuring revenue totalled $907m.
London-headquartered Humio has previously raised $32m in funding.
Geeta Schmidt, chief executive officer and co-founder at Humio, said:
“We are thrilled to join CrowdStrike, the company that is leading the security industry with its cloud-native data platform, designed to support customers in establishing more mature and reliable security programs.
“CrowdStrike’s Security Cloud is the ideal platform to extend Humio’s technology and reach, while continuing our mission to empower customers to make data-rich decisions.”
Crowdstrike was one of the cybersecurity vendors that tied the 2016 hack of the Democratic National Committee to Russian intelligent services.
It listed on the tech-heavy NASDAQ exchange in June 2019. Since going public its shares have increased in value by 264%.