NEW YORK, Feb. 11, 2021 /PRNewswire/ --Datadog, Inc. (NASDAQ: DDOG), the monitoring and security platform for cloud applications, today announced that it has entered into a definitive agreement to acquire Sqreen, a SaaS based security platform that enables enterprises to detect, block and respond to application level attacks. The addition of Sqreen's application security capabilities will provide development, security and operations teams a unified platform to deliver and manage secure and resilient applications.
Modern application security vulnerabilities range from oversights in how code was written to configuration issues in underlying infrastructure. However, these issues are complex to detect, prevent or troubleshoot, because application security crosses lines of responsibility between developers who write the applications, operations teams who run them, and security teams who are responsible for securing these applications. Sqreen's proven application security management platform provides Runtime Application Self-Protection (RASP) and in-app web application firewall (WAF) that is already utilized by hundreds of development, operations and security teams in production to detect and block code level exploits while allowing legitimate traffic.
"The application layer is currently one of the most vulnerable and exploitable attack surfaces," said Olivier Pomel, CEO, Datadog. "In combining Sqreen with Datadog, we plan to close the gap between application developers and security teams and provide our customers robust application security, without the disjointed visibility, high implementation costs and steep learning curve of traditional application security products."
"Today's announcement marks an exciting new chapter for Sqreen that will enable us to deliver on our mission of creating a more secure future for all organizations," said Pierre Betouin, CEO, Sqreen. "As part of Datadog, we will be able to accelerate the way we build security tools that automate application protection, threat detection, and security monitoring to deliver more value to customers."
According to 451 Research, part of S&P Global Market Intelligence, security is a team sport, meaning security professionals within an enterprise will be called upon to work in a matrix with a number of different functional teams. This approach is common in endpoint management and network security, and it's increasingly going to be part of the management of cloud infrastructure. Application security is no different – security's reason for existence is the implementation of processes to protect the enterprise from a host of threats, and thus that team typically holds budget, implementation expertise and the motivation (via how it is measured) to insist on continuous process improvement around the protection of information. Enabling other teams by federating certain day-to-day activities can further this mission, but it doesn't absolve information security from, in the context of application security, ensuring tools work for developers, making sure tools are being used and run, and reviewing the status of vulnerabilities.1
The transaction is subject to certain customary closing conditions, including receipt of required regulatory approvals, and is expected to close in Q2 2021.
Datadog is the monitoring and security platform for cloud applications. Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of our customers' entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior and track key business metrics.
This press release may include certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including those risks detailed under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission filings and reports, including the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2020, as well as future filings and reports by us. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.