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.