What's CrowdStrike Doing With $750 Million in Fresh Cash?

By The Motley Fool2 days ago

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This week, CrowdStrike (NASDAQ: CRWD) announced its intention to raise $750 million via senior unsecured notes due 2029. Management indicated the company will use the proceeds “for general corporate purposes, which may include, among other things, acquisitions, capital expenditures, and working capital.“ It appears as though the cybersecurity specialist is gearing up to make some acquisitions.

CrowdStrike has built a cybersecurity platform that leverages cloud computing to protect endpoints (personal computers, servers, laptops, and mobile devices). The coronavirus pandemic boosted the company's business over the last several quarters, as many enterprises have been looking to secure the working environments of remote employees. But more importantly, CrowdStrike is set to profit from its innovative offerings that other players, such as McAfee and Broadcom's Symantec, can't match because of their legacy technologies.

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