JFrog Ltd. completed the acquisition of VDOO Connected Trust Ltd.
July 18, 2021
Share
JFrog Ltd. (NasdaqGS:FROG) entered into a definitive agreement to acquire VDOO Connected Trust Ltd. for $310 million on June 29, 2021. The consideration consists of approximately $210 million of cash and approximately 1.93 million of JFrog ordinary shares subject to adjustments. Of the consideration, approximately $90 million will be paid with JFrog ordinary shares. The purchase agreement is cash free and debt free basis. A portion of the consideration is subject to escrow mechanisms, whereby an amount equal to 10% of the Consideration shall be held for a 15-month escrow period, subject to adjustment for certain indemnifiable events and circumstances as set forth in the agreement. After completion, VDOO Connected Trust will become a wholly-owned subsidiary of the JFrog. Vdoo's team of 90 employees will all join JFrog. The transaction is expected to complete in the third calendar quarter of 2021.
JFrog Ltd. (NasdaqGS:FROG) completed the acquisition of VDOO Connected Trust Ltd. on July 19, 2021. Consideration will be paid in the form of $217.5 million in cash and issue of 1,823,266 shares to VDOO along with net of cash acquired of $31.2 million. Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor to JFrog Ltd.
JFrog Ltd. provides an end-to-end, hybrid, universal Software Supply Chain Platform. Its products include JFrog Artifactory, JFrog Xray (Security Essential), JFrog Advanced Security, JFrog Distribution, JFrog Artifactory Edge, JFrog Mission Control, JFrog Insight, JFrog Connect and JFrog Pipelines. JFrog Artifactory supports all software package technologies and can be seamlessly deployed across public clouds, multi-cloud, on-premises, private cloud, and hybrid environments. JFrog Distribution provides reliable, scalable, and secure software package distribution with enterprise-grade performance. JFrog Mission Control is its integrated platform control panel, providing a high-level view of all the moving pieces of an organizationâs software supply chain workflow. JFrog Insight is its universal DevOps intelligence tool. JFrog Advanced Security is an optional add-on for select JFrog subscriptions as an advanced, binary-focused security solution integrated into the JFrog Platform.