Benzinga | Jun 29, 2021 10:40AM EDT

JFrog To Acquire Vdoo For $300M For Holistic Security

* Liquid software company JFrog Ltd (NASDAQ:FROG) inked an agreement to acquire Vdoo Connected Trust Ltd in a cash and stock-based deal valued at $300 million.

* Of the purchase price, $90 million will be in the form of JFrog ordinary shares.

* Vdoo will help JFrog back every software update and create a world of Liquid Software by expanding its end-to-end DevOps Platform offering, providing complete security from the development environment to edges, IoT, and devices.

* Vdoo's team and JFrog will seek to deliver a complete DevSecOps solution to secure the entire software packages lifecycle.

* JFrog will triple the size of its security experts team, including engineering, marketing, and sales, with employees located in Israel, Germany, Japan, and North America.

* In 2021, JFrog will expand JFrog Xray vulnerability detection to include Vdoo's extensive data andimproved scanning across multiple dimensions, including configuration and applicability scanning.

* Additionally, JFrog expects to fully integrate Vdoo's technology into its DevOps platform for a stable, holistic secured platform in 2022.

* Vdoo's SaaS product will remain in operation, with the new development of features and functions focusing on the JFrog Platform solution.

* JFrog and Vdoo will work with customers to ensure business continuity and streamlined migration to the joint offering.

* JFrog held $605.7 million in cash and equivalents as of Mar. 31, 2021.

* Price action: FROG shares traded lower by 3.45% at $48.01 on the last check Tuesday.