The CEO of $53 billion CrowdStrike says its $400 million acquisition of Humio marks a way forward for cybersecurity after the SolarWinds attacks (CRWD)

CrowdStrike Chief Executive George Kurtz is photographed in the company's offices. CrowdStrike help CrowdStrike Chief Executive George Kurtz is photographed in the company's offices. CrowdStrike helps companies protect their data, and the company has been successful given the increased threat of foreign based hackers from Russia and China. (Photo by Katie Falkenberg/Los Angeles Times via Getty Images)

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George Kurtz, the CEO of the cybersecurity firm CrowdStrike, believes his new $400 million acquisition of the cloud data-management startup Humio, announced on Thursday, marks a way forward for enterprise cybersecurity after the devastating SolarWinds cyberattacks. 

Kurtz has been on the front lines of the sprawling supply-chain attacks. His $53 billion Silicon Valley cybersecurity firm repelled a breach attempt by the hackers, and is helping the company SolarWinds investigate the vast hack. Next week, Kurtz will testify before the Senate about the attacks, along with the CEOs of SolarWinds and FireEye, and the president of Microsoft.

Shares of CrowdStrike, which went public in 2017, are up some 19% since the beginning of the year, reflecting what is widely considered to be an industry-wide surge in interest in the cybersecurity market in the wake of the attacks.

Indeed, SolarWinds shows the need for visibility to spot any anomalies throughout companies’ cloud-based computer networks, Kurtz said. That visibility requires artificial intelligence that constantly crunches the latest data to fend off new kinds of attacks. The acquisition will help feed CrowdStrike’s vulnerability-scanning software robots with the best data in the industry, he says. 

Humio is a London company of around 80 employees founded in 2016 that previously raised $32 million in venture capital from investors including Trifork Ventures and Accel London. The firm builds software that helps companies organize and monitor their data in the cloud with fast, detailed reports of network issues and cybersecurity incidents across multiple platforms. The acquisition is expected to close during CrowdStrike’s fiscal first quarter, subject to customary closing conditions. 

Geeta Schmidt, CEO and cofounder at Humio, said in a statement that CrowdStrike is “the ideal platform to extend Humio’s technology and reach, while continuing our mission to empower customers to make data-rich decisions.”

The acquisition helps CrowdStrike keep pace in a changing world

Humio’s data-monitoring system presents an orderly way to keep AI-based cybersecurity up to speed in an ever-changing world, Kurtz said.

The CEO believes SolarWinds has changed cybersecurity forever, and new tools are required to protect organizations. “This is a lot more sophisticated than people really understood,” Kurtz told Insider of the attacks. “You can’t just go back to work now and focus on ransomware or phishing. The defenders have to defend everything. You need to have new levels of visibility if you’re not going to have a massive breach like this again. If you want to do as much as human possible, you have to have lots of organized data and AI.”

CrowdStrike pioneered a cybersecurity area called “extended detection and response,” now known in the industry as XDR. That approach uses data to teach algorithms what an organization’s networks normally look like. When hackers disrupt that normal situation — sort of like a burglar opening a window — alarms go off. That’s the detection part. The response part pushes the burglar back out the window, shuts and locks it, and records everything about the situation to prevent it from happening again. 

CrowdStrike has learned from the cybersecurity …read more

Source:: Business Insider


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