Palo Alto SOARs into Agreement with Demisto
A definitive acquisition agreement between Palo Alto Networks and Demisto, announced today, is expected to close during the fiscal third quarter for Palo Alto Networks. The acquisition of Demisto will be finalized for a total purchase price of $560 million, according to a press release.
The total purchase, to be paid in cash and stock, is subject to adjustment, and the final deal is contingent upon customary closing conditions, including satisfactory regulatory approvals.
Demisto will bring its strength in the security orchestration, automation and response (SOAR) space to Palo Alto Networks’ existing cybersecurity offerings. By adding in the use of AI and machine learning, Palo Alto Networks will be able to automate significant parts of the customer’s security operations.
For current Demisto customers and partners, the products will continue to be available after the deal closes.
Commenting on how the acquisition of Demisto will accelerate Palo Alto Networks Application Framework strategy, Nikesh Arora, chairman and CEO of Palo Alto Networks, said, “We are delighted to welcome Demisto into the Palo Alto Networks family. Coupled with our Application Framework, Demisto will help us strengthen our commitment to security teams by delivering a platform that provides higher levels of integration, automation, and innovation to prevent successful cyber-attacks."
Automation has been a key focus for Demisto, “because we believe that relying on people alone to combat threats will fail against the scale of today's attacks,” said Slavik Markovich, CEO of Demisto. "Palo Alto Networks' strategy resonates with our own vision, and we have found a like-minded team that shares our conviction that the future of security is all about automation and AI. We're thrilled to be joining them to help make it a reality."
The acquisition will enable Palo Alto Networks to deliver more immediate threat prevention and response for security teams.
Source: Information Security Magazine