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CrowdStrike Holdings, Inc. 8-K Report, Corporate Update (Sep 24, 2020)

Reports
Other Events
Filing Date
Filed September 24, 2020
Period End
September 23, 2020
Security
CRWD
In the record · 2019–202610-K710-Q238-K64

CRWD filed 7 annual reports (10-K), 23 quarterly reports (10-Q) and 64 current reports (8-K) between 2019 and 2026.

  1. Leadership change8-K · Mar ’23Mar ’23
  2. Leadership change8-K · Apr ’26Apr ’26

01—Abstract

Summary

Summary of the 8-K filed September 24, 2020. Cited figures are marked; the original filing is the authoritative source.

CrowdStrike Holdings, Inc. announced on September 23, 2020, that it has entered into a definitive agreement to acquire Preempt Security, Inc. for approximately $96 milliona in a mix of cash and stock.

Preempt Security is recognized for its Zero Trust and conditional access technology, enhancing real-time access control and threat prevention capabilities. This strategic acquisition is expected to bolster CrowdStrike's existing security platform by integrating Preempt's advanced technology, further strengthening its cloud-delivered endpoint and cloud workload protection.

The transaction is anticipated to close in the third quarter of CrowdStrike's fiscal year 2021, subject to standard closing conditions. Investors should monitor the integration progress and its impact on CrowdStrike's market position and competitive advantage in the cybersecurity space.

02—Key points

Key Highlights

  1. CrowdStrike to acquire Preempt Security for approximately $96 million ($86 million cash, $10 million stock/options).
  2. Preempt Security is a provider of Zero Trust and conditional access technology.
  3. Acquisition aims to enhance CrowdStrike's real-time access control and threat prevention capabilities.
  4. The integration is expected to strengthen CrowdStrike's cloud-delivered endpoint and cloud workload protection.
  5. The deal is expected to close in CrowdStrike's fiscal third quarter of 2021.
  6. The announcement was made via an 8-K filing on September 23, 2020.

03—Questions

Frequently Asked Questions

  1. What is the primary strategic rationale behind the Preempt Security acquisition?

    The acquisition of Preempt Security is intended to enhance CrowdStrike's existing security platform by integrating Preempt's Zero Trust and conditional access technology. This will allow CrowdStrike to offer improved real-time access control and threat prevention, further strengthening its cloud-delivered endpoint and cloud workload protection offerings.

  2. What is the total expected cost of the acquisition?

    CrowdStrike expects to pay approximately $86 million in cash, plus $10 million in stock and options subject to vesting conditions, bringing the total consideration to approximately $96 million (excluding expenses and other adjustments).

  3. When is the acquisition expected to be completed?

    The acquisition is expected to close in CrowdStrike's fiscal third quarter of 2021, subject to customary closing conditions being met.

  4. What is Zero Trust and conditional access technology, and why is it relevant to CrowdStrike?

    Zero Trust is a security model that assumes no user or device can be trusted by default, requiring strict verification for every access request. Conditional access technology grants or denies access based on real-time risk assessments, user identity, device health, and other factors. Integrating this technology allows CrowdStrike to provide more granular and dynamic security controls, crucial for protecting modern, distributed IT environments.

04—Continue

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