Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today that it has completed its acquisition of RedLock Inc., a cloud threat defense company. For Palo Alto Networks, the transaction will extend its cloud security leadership.
"With the combination of RedLock and our existing cloud security offerings, we are well-positioned to solve our customers' most difficult challenges of securing a mobile workforce, protecting the public cloud and stopping advanced threats," said Nikesh Arora, CEO of Palo Alto Networks. "Since announcing the transaction, our integration planning teams have been working to combine the strengths of both companies in an effort to bring an integrated offering to market quickly."
Palo Alto Networks already provides a broad security offering for multi-cloud environments with inline, host-based and API-based security, bolstered by the acquisition of Evident.io in March 2018. The company currently serves more than 6,000 cloud customers globally with its cloud security portfolio that includes VM-Series next-generation firewall, Aperture, Evident, and GlobalProtect cloud service.
Palo Alto Networks will combine the Evident and RedLock technologies to provide customers with cloud security analytics, advanced threat detection, continuous security, and compliance monitoring in a single offering anticipated early next year. The company expects that the new offering will allow security teams to respond faster to the most critical threats by replacing manual investigations with automated, real-time remediation and reports that highlight an organization's cloud risks.
Palo Alto Networks paid approximately $173 million in cash, excluding purchase price adjustments, to acquire RedLock.
About Palo Alto Networks
We are the global cybersecurity leader, known for always challenging the security status quo. Our mission is to protect our way of life in the digital age by preventing successful cyberattacks. This has given us the privilege of safely enabling tens of thousands of organizations and their customers. Our pioneering Security Operating Platform emboldens their digital transformation with continuous innovation that seizes the latest breakthroughs in security, automation, and analytics. By delivering a true platform and empowering a growing ecosystem of change-makers like us, we provide highly effective and innovative cybersecurity across clouds, networks, and mobile devices.
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