CrowdStrike To Acquire Identity Security Firm Amid Cybersecurity Platform Race

Core Viewpoint - CrowdStrike Holdings (CRWD) announced the acquisition of identity security firm SGNL for approximately $740 million, continuing its expansion into the identity security market [1] Company Summary - The acquisition of SGNL is part of CrowdStrike's strategy to enhance its offerings in the identity security sector, where it competes with companies like CyberArk (CYBR) and Okta (OKTA) [1] - Following the announcement of the acquisition, CrowdStrike's stock experienced a decline [1] Industry Summary - The identity security market is increasingly important as hackers often target insiders, such as employees, to compromise networks [1]