Crowdstrike finalizes deal to acquire Bionic (update)
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Update 9:10am: Adds company confirming deal. 
Crowdstrike Holdings (NASDAQ:CRWD) agreed to purchase cybersecurity startup Bionic.
The purchase price is manly in cash with a portion delivered in the form of stock subject to vesting conditions, according to a statement on Tuesday. The deal price is said to be about $350 million, The Information rerported late Monday.
The purchase is expected to close in Crowdstrikes's (CRWD) fiscal third quarter.
Bionic, which is backed by investors including Insight Partners and Battery Ventures, has annual revenue of less than $50 million, The Information report said. The startup has raised more than $80 million in financing, according to PitchBook.
âWe are delivering what customers need: modern protection to address cloud security risk comprehensively, through one unified platform," Crowdstrike CEO George Kurtz said in the statement. "We pioneered cybersecurity for the cloud era, and the addition of Bionic further extends our cloud security leadership on our mission of stopping breaches."
The latest news comes after TechCrunch reported in July that Crowdstrike (CRWD) was getting close to acquiring Bionic, which is headquartered in Palo Alto, California.

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