Elastic To Acquire Israel's build.security To Drive Cloud Security - Elastic (NYSE:ESTC)

Elastic NV ESTC agreed to acquire Tel Aviv, Israel, headquartered policy definition and enforcement platform build.security, to aid organizations in enforcing security actions for cloud-native environments. The financial terms of the transaction remain undisclosed.
The addition of build.security extends Elastic's Limitless XDR to help enforce security actions for cloud-native environments, including hosts, virtual machines, and containers orchestrated by Kubernetes.
The build.security team will be the foundation of Elastic's growing presence in Israel and build.security CEO Amit Kanfer will serve as site lead for the region.
The acquisition is likely to close during Elastic's Q2.
Elastic held $400.8 million in cash and equivalents as of April 30.
Price Action: ESTC shares traded higher by 2.95% at $160.2 in the premarket session on the last check Monday.