F5 Network Procures $1B Shares of Shape Security

By StartUp City | Monday, January 06, 2020

It's the largest acquisition till date by F5, after it spent $670 million to buy popular web server technology NGINX, last year.

FREMONT, CA: F5 Networks Inc, a Seattle-based application services and application delivery networking company, has acquired all issued and outstanding shares of Shape Security, an online fraud prevention platform, for a total value of approximately $1billion. It's the largest acquisition to date by F5 after it spent $670 million to buy popular web server technology NGINX, last year.

This acquisition of the Santa-Clara based company will enable F5 to protect applications across multi-cloud environments with Shape's fraud and abuse anticipation capabilities to transform application security. Jointly, the two companies can now provide organizations with wide-ranging and end-to-end application security.

"Beyond opening a fast-growing $4 billion adjacent market, Shape's machine learning and AI-powered capabilities will scale and extend F5's broad portfolio of application services and expand our ability to optimize and protect customers' applications in an increasingly complex multi-cloud world," F5 President and CEO François Locoh-Donou said in a statement.

Check Out: Top Managed Security Service Companies in APAC

Shape Inc. serves some of the world's largest banks, retailers, airlines, and government agencies. Shape uses fraud detection capabilities and AI-powered automation to detect and distinguish between human and automated traffics. This enables Shape to defend its clients against cyber-security initiated frauds. Shape claims to mitigate up to a billion fraudulent or unwanted transactions daily besides keeping 200 million legal human logins and other interactions safe. The company provides comprehensive protection for web applications, API interfaces, and mobile applications.

"Since Shape's inception, we observed a consistent pattern in customer after customer: the use of F5 technology to deliver and enable their applications," Derek Smith, co-founder, and CEO of Shape, said in a statement. "Now, we look forward to the opportunity to deeply integrate into F5's platform for application delivery and security — F5 provides the optimum traffic flow insertion point for Shape's industry-leading online fraud and abuse prevention solutions."

See Also :- Top Enterprise Security Companies

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