Radware launches SkyHawk Security, a spin-off of its Cloud Native Protector business

Radware launches SkyHawk Security, a spin-off of its Cloud Native Protector business

TEL AVIV, Israel, May 3, 2022— malware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced the spin-off of its Cloud Native Protector (CNP) business to form a new company called SkyHawk Security. Speed ​​up

Development and growth opportunities for SkyHawk Security, a subsidiary of Tiger Global

Management will make a strategic external investment of $35 million, resulting in a valuation of $180 million. Tiger Global Management is a leading global technology investment firm focused on private and public companies in the Internet, software and fintech sectors.

Skyhawk Security is a leader in cloud threat detection, protecting dozens of the world’s leading organizations through its AI and machine learning technologies. Its Cloud Native Protector provides comprehensive protection for workloads and applications hosted in public cloud environments. It uses a multi-layered approach that covers the overall cloud security posture and threats to individual workloads. Easy to deploy, the agentless solution identifies and prevents compliance violations, cloud security misconfigurations, excessive permissions, and malicious cloud activity.

“We recognize the growing opportunities in the public cloud security market and plan to capitalize on them,” said Roy Zisapel, president and CEO of Radware. “We look forward to partnering with Tiger Global Management to scale the business, unlock even more security value for customers and position SkyHawk Security for long-term success.”

The spin-off, which adds to Radware’s recently announced strategic cloud services initiative, further demonstrates the company’s continued commitment to innovation. SkyHawk Security will have the ability to operate with an increased focus on sales, marketing and products, as well as speed and flexibility. Current and new CNP customers will benefit from future product development efforts, while CNP’s services to existing customers will continue without interruption.

Radware does not expect the deal to materially affect second quarter or full year 2022 operating results.

About Tiger Global Management

Tiger Global Management is a leading global technology investment firm focusing on private and public companies in the software, Internet and fintech sectors. Since 2001, Tiger Global has invested in hundreds of companies in more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs who operate market-leading companies in their primary focus areas.

About Raware

malware® (NASDAQ: RDWR) is a global leader in cyber security and application delivery solutions for physical, cloud and software-defined data centers. Its award-winning portfolio of solutions secures the digital experience by providing corporate IT, application and infrastructure protection and availability services to businesses around the world. Radware solutions enable enterprise and carrier customers around the world to quickly adapt to market challenges, maintain business continuity, and achieve maximum productivity while keeping costs low. For more information, visit the malware website.

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