CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares are trading higher premarket on Wednesday. The company agreed to acquire Adaptive Shield for an undisclosed amount.

The purchase will primarily be paid in cash, with a portion in stock subject to vesting conditions.

The deal will enhance its platform to deliver unified protection against identity-based attacks across on-premises, cloud, and SaaS environments.

This move solidifies CrowdStrike’s role in securing complex hybrid ecosystems.

The acquisition is anticipated to close in CrowdStrike’s fiscal fourth quarter, pending customary approvals.

George Kurtz, CEO and founder, CrowdStrike said, “As SaaS and AI adoption grows, every new application brings additional complexity and the risk of misconfigurations across human and non-human accounts that create openings for sophisticated attacks.”

CrowdStrike held cash and equivalents of $4.04 billion as of July 31, 2024. The company will release financial results for its fiscal third quarter 2025 ended October 31, 2024, after the U.S. market closes on Tuesday, November 26, 2024.

”With the acquisition of Adaptive Shield, CrowdStrike will continue to set the standard for identity-based protection in the cloud, delivering best-in-class SaaS protection from the Falcon platform.”

Maor Bin, CEO and co-founder, Adaptive Shield stated, “Our mission perfectly complements CrowdStrike, stopping SaaS breaches while further accelerating consolidation on cybersecurity’s most comprehensive platform.”

Last month, CrowdStrike partnered with Fortinet to integrate AI-native security with next-gen firewalls for improved threat detection.

Investors can gain exposure to the stock via REX AI Equity Premium Income ETF (NASDAQ:AIPI) and First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR).

Price Action: CRWD shares are up 2.34% at $314.79 premarket at the last check Wednesday.

Image via Shutterstock

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This article CrowdStrike Strengthens Its Arsenal Against Cyber Threats, Secures Adaptive Shield To Guard Hybrid Ecosystems originally appeared on Benzinga.com

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