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Radware Announces Spinoff Of Its Cloud Native Protector Business

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Radware, a provider of cyber security and application delivery solutions, has announced the spinoff of its Cloud Native Protector (CNP) business to form a new company called SkyHawk Security. To accelerate SkyHawk Security’s development and growth opportunities, an affiliate of Tiger Global Management will make a $35 million strategic external investment, resulting in a valuation of $180 million. Tiger Global Management is a global technology investment firm focused on private and public companies in the internet, software, and financial technology sectors.

According to the company, SkyHawk Security uses a multi-layered approach that covers the overall security posture of the cloud 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.

The spinoff adds to Radware’s recently announced strategic cloud services initiative. 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 without interruption.

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

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