Cybersecurity leader Radware launches SkyHawk Security, a

TEL AVIV, Israel, May 03, 2022 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a leading provider of cybersecurity and application delivery solutions, today announced that it has spun off its Cloud Native Protector (CNP) business to form a new company called SkyHawk Security. To accelerate the development and growth opportunities of 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 and protects dozens of the world’s largest organizations with its artificial intelligence and machine learning technologies. Its Cloud Native Protector provides comprehensive protection for workloads and applications hosted in public cloud environments. It uses a 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 activity in the cloud.

“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 even greater sales, marketing, and product focus, as well as speed and flexibility. Current and new CNP customers will benefit from future product development efforts, while CNP services for existing customers will continue uninterrupted.

Radware does not expect the agreement 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 focused on private and public companies in the software, internet and fintech industries. Since 2001, Tiger Global has invested in hundreds of companies in over 30 countries, including investments ranging from Series A to pre-IPO. The company aims to partner with dynamic entrepreneurs operating market-leading businesses in its core focus areas.

About Radware
Radware® (NASDAQ: RDWR) is a global leader in cybersecurity and application delivery solutions for physical, cloud and software-defined data centers. Its award-winning portfolio of solutions secures the digital experience by providing enterprise IT infrastructure, applications and protection, and availability services to enterprises worldwide. Radware’s solutions enable businesses and operators around the world to quickly adapt to market challenges, maintain business continuity, and achieve maximum productivity while reducing costs. For more information, please visit the Radware website.

Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, Twitter, YouTube and Radware Mobile for iOS and Android.

©2022 Radware Ltd. All rights reserved. All Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the United States and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other brands and names are the property of their respective owners.

Radware believes that the information contained herein is accurate in all material respects as of the date of its publication. However, the information is provided without any express, statutory or implied warranty and is subject to change without notice.

The content of any website or hyperlink mentioned in this press release is for informational purposes only and its content does not form part of this press release.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. -see the statements. Generally, forward-looking statements can be identified by words such as “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans” and similar expressions or future or conditional verbs such as “will”, “should”, “should”, “may” and “could”. For example, when we say that we recognize the growing opportunities in the public cloud security market and plan to capitalize on them, we use a forward-looking statement. Because these statements address future events, they are subject to various risks and uncertainties, and the actual results, expressed or implied by these forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions and market volatility for our products; natural disasters and public health crises, such as the coronavirus disease 2019 (COVID-19) pandemic; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls and similar measures, targeting Russia and other countries and territories, as well as other responses to the Russian military conflict in Ukraine, including the indefinite suspension operations in Russia and relationships with Russian entities by numerous multi-national companies in a variety of industries; our ability to successfully implement our strategic initiative to accelerate our cloud business; our ability to effectively expand our operations; the timely availability and customer acceptance of our new and existing solutions; risks and uncertainties related to acquisitions or other investments; the impact of economic and political uncertainties and weaknesses in various regions of the world, including the onset or escalation of hostilities or acts of terrorism; intense competition in the cybersecurity and application delivery solutions market and in our industry generally, and changes in the competitive landscape; changes in government regulations; failures, interruptions or delays in the hosting services or our internal network system; compliance with open source and third-party licenses; the risk that our intangible assets or goodwill will be impaired; our reliance on independent distributors to sell our products; long sales cycles for our solutions; changes in foreign currency exchange rates; undetected defects or errors in our products or failure of our products to protect against malicious attacks; component availability and manufacturing capacity; the ability of suppliers to supply our hardware platforms and components for our major accessories; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; changes in tax laws; our ability to achieve our investment objectives for our cash and liquid investments; our ability to attract, train and retain highly qualified personnel; and other factors and risks over which we have little or no control. This list is intended to identify only some of the major factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, see Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and other risk factors discussed from time to time. by Radware in reports filed with, or provided to, the SEC. Forward-looking statements speak only as of the date they are made and, except as required by applicable law, Radware does not undertake to revise or update any forward-looking statement to reflect new events or circumstances after the date on which such declaration is made. Radware’s public filings are available on the SEC’s website at www.sec.gov or may be obtained from Radware’s website at www.radware.com.

Investor Relations:
Yisca Erez, +972-72-3917211,
[email protected]

Media Contact:
Gerri Dyrek
Radware
[email protected]

More Stories
‘I am Value It’: Why 1000’s of Medical doctors in America Cannot Discover Jobs