JFrog to acquire Qwak AI for $230M in cash and stock to expand MLOps

JFrog Ltd

Total consideration ~$230M; ~$38M in unregistered shares (~1.15M shares) plus ~$10M in RSUs.
Deal expected to close in Q3 2024; Qwak will become a wholly-owned subsidiary.
Acquisition aims to unify DevOps, DevSecOps, MLOps; manage AI model lifecycle on JFrog Platform.
JFrog reaffirms Q2 and FY2024 guidance as provided on May 9, 2024.
Planned integrations with AWS Sagemaker and Databricks MLflow; continued partner ecosystem.

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