Radware Spins Off CNP Business as SkyHawk SecurityRadware Spins Off CNP Business as SkyHawk Security
There is a clear need for tools that offer real-time detection of public cloud intrusions and attacks.
May 3, 2022
Radware, the cybersecurity and application delivery provider, has spun off its Cloud Native Protector (CNP) business into a new company, SkyHawk Security.
In addition, an affiliate of Tiger Global Management, the global technology firm, is investing $35 million in the new business. It focuses on private and public companies in the internet, software and financial technology sectors.
Skyhawk Security provides cloud threat detection. It protects organizations globally using its artificial intelligence (AI) and machine learning (ML) technologies.
Its CNP provides protection for workloads and applications hosted in public cloud environments. The agentless solution identifies and prevents compliance violations, cloud security misconfigurations, excessive permissions and malicious activity in the cloud.
Partners to Benefit from SkyHawk Security
Sharon Trachtman is Radware‘s chief business operation officer.
Radware’s Sharon Trachtman
“We expect the launch of SkyHawk to benefit our partners, as well as current and future customers,” she said. “Spinning off our CNP business to form a new company will open doors for us to invest more in the business, adding more R&D, sales and marketing personnel to cover the market opportunity faster and in a more dedicated fashion. Our sales team and partners will be able to enjoy a more competitive and faster-moving CNP product line to sell and deliver to our customers.”
Both partners and customers will benefit from the outside investment, Trachtman said.
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“The infusion of dollars will help us accelerate R&D and innovate more quickly in delivering solutions that improve overall security posture, as well as protect cloud environments against identity and access abuse and malicious user behavior,” she said.
SkyHawk Security Will Accelerate with Separation
Running as a separate entity, SkyHawk Security will have the ability to operate with even greater sales, marketing and product focus, as well as speed and flexibility, Trachtman said.
“We intend to leverage the external investment by Tiger Global Management as well as the efforts of a dedicated development team to accelerate R&D and unlock even more security value for partners and customers,” she said.
There is a clear need for tools that offer real-time detection of public cloud intrusions and attacks, Trachtman said.
“We are seeing great traction with our Amazon Web Services (AWS) and Azure partners,” she said. “Channels are very excited about the fact that Skyhawk products are easy to install and operate. Our partners and customers can expect to see more industry leading cloud security solutions coming from Radware in the future.”
Radware does not expect the deal to materially affect operating results for the second quarter or full year of 2022.
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