CrowdStrike announced on Monday that it has agreed to purchase Seraphic Security, a browser runtime security provider, for $420 million.
This acquisition comes just days after the cybersecurity firm completed a $740 million deal for startup SGNL. The SGNL purchase is intended to help users of CrowdStrike's Falcon security platform better manage human and AI identity access requests and other risks.
In an exclusive interview on Yahoo Finance's Opening Bid, CrowdStrike founder and CEO George Kurtz stated, "The idea is combining these assets along with Falcon Shield and some of the other acquisitions that we've done in the past gives us really a next-gen identity platform."
Kurtz explained the challenge with AI agents, saying, "It's like giving full access to a drunken intern. I mean, who knows what they're going to do?"
Earlier in 2025, CrowdStrike acquired AI agentic security platform Pangea for $260 million and data startup Onum for $290 million.
The company reported a solid third quarter. Sales increased 22% from the prior year to $1.23 billion. Annual recurring revenue improved 23% to $4.92 billion. Non-GAAP operating income reached a record $264.6 million.
For the current quarter, CrowdStrike expects sales between $1.29 billion and $1.3 billion. Earnings per share are projected at $1.09 to $1.11. Analysts anticipate the company will deliver toward the high end of its outlooks.
Shares have risen 37% over the past year, outperforming the Nasdaq Composite's 23% gain.
Stifel analyst Adam Borg wrote in a note, "CrowdStrike is an important platform vendor with a number of drivers to sustain at least high-teens top-line growth and improving profitability in coming years and remain buyers." Borg rates CrowdStrike a Buy with a $600 price target.