JFrog Ltd. (NasdaqGS:FROG) entered into a Share Purchase Agreement to acquire Qwak AI Ltd. for approximately $230 million on June 23, 2024. A combination of equity and cash consideration will be paid by JFrog Ltd. The consideration consists of 1.15 million unregistered ordinary shares of JFrog Ltd. having a value of $38 million to be issued for common equity and restricted share units of JFrog Ltd. having a value of $10 million to be issued for common equity of Qwak AI Ltd. As part of consideration, $48 million is paid towards common equity of Qwak AI Ltd.

The expected completion of the transaction is the third calendar quarter of 2024.