(RTTNews) - Fastly, Inc. (FSLY) announced Thursday that it has entered into a definitive agreement to acquire Signal Sciences for approximately $775 million, including $200 million in cash and approximately $575 million worth of Class A Common Stock, subject to customary adjustments for transactions of this nature.
Fastly will also establish a retention pool of $50 million worth of restricted stock units to be granted to Signal Sciences employees.
Signal Sciences' strong, developer-first web application and API protection solutions will bolster Fastly's existing security offerings to bring customers a unified edge security solution.
Signal Sciences' technology combined with Fastly's current solutions will form Fastly's upcoming new security offering, Secure@Edge.
Secure@Edge will be a modern, unified web application and API protection solution that will power and protect companies looking to further or begin their digital transformation.
With Signal Sciences' technology, Fastly's enhanced web application and API protection solution will deliver increased agility, visibility, and protection as more code and applications move to the edge.
The transaction is subject to certain customary closing conditions, including receipt of required regulatory approvals, and is expected to close in 2020.
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