Palo Alto Networks to buy VC-backed RedLock for about $173 mln


Palo Alto Networks has agreed to acquire RedLock Inc, a cybersecurity company, for about $173 million. RedLock’s backers included Sierra Ventures, Storm Ventures and Dell Technologies Capital.

PRESS RELEASE

SANTA CLARA, Calif., Oct. 3, 2018 /PRNewswire/ — Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, today announced that it has entered into a definitive agreement to acquire RedLock Inc., a cloud threat defense company. Under the terms of the agreement, Palo Alto Networks will pay approximately $173 million in cash to acquire RedLock. The acquisition is expected to close during Palo Alto Networks fiscal first quarter, subject to the satisfaction of customary closing conditions. RedLock co-founders, Varun Badhwar and Gaurav Kumar, will join Palo Alto Networks.

Palo Alto Networks already provides a broad security offering for multi-cloud environments with inline, host-based, and API-based security, which was 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 help security teams 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.

Quotes
“We are thrilled to add RedLock’s technology to our cloud security offerings. The addition of their technologies allows us to offer the most comprehensive security for multi-cloud environments, including Amazon Web Services, Google Cloud Platform and Microsoft Azure, and significantly strengthens our cloud strategy going forward.”

~ Nikesh Arora, chairman and CEO of Palo Alto Networks
“We are excited to join Palo Alto Networks to bring together the strength of our cloud analytics and their industry-leading compliance technologies to help security teams protect their organizations.”

~ Varun Badhwar, co-founder and CEO of RedLock

For more information on the proposed acquisition, please visit our announcement webpage.

About RedLock
RedLock provides effective threat defense across public cloud environments to help organizations ensure compliance, govern security, and enable security operations. The RedLock Cloud 360™ platform takes an AI-driven approach that correlates disparate security data sets to provide comprehensive visibility, detect threats, and enable rapid response across an organization’s entire public cloud environment.

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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