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Palo Alto Networks Announces Plans to Acquire The Crypsis Group

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Palo Alto Networks Announces Plans to Acquire The Crypsis Group

Palo Alto Networks announced plans to acquire The Crypsis Group for $265 million in cash. This marks the latest in a series of acquisitions by Palo Alto over the past two years. In fact, its acquisitions include Demisto, CloudGenix, Aporeto, PureSec, and Twistlock.

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Palo Alto Networks operates as a security orchestration, automation, and response (SOAR) provider as well as a cloud-centric security vendor. Additionally, Palo Alto Networks focuses on enterprise firewalls, artificial intelligence, and analytics. With several endpoint security use cases including IoT security and mobile users, it also crosses into that category. 

The Crypsis Group emphasizes incident response, risk management and digital forensics in its services. It can help enterprises uncover how a breach unfolded and close digital vulnerabilities. Reports suggest that Palo Alto Networks plans to fold The Crypsis Group into its existing services and offerings. The deal should close in the first fiscal quarter of 2021, pending regulatory approval. 

Nikesh Arora, chairman and CEO of Palo Alto Networks, gave a statement in a press release. “The proposed acquisition of The Crypsis Group will significantly…[expand] our capabilities and [strengthen] our Cortex strategy. By joining forces, we will be able to help customers not only predict and prevent cyber attacks but also mitigate the impact of any breach they may face.”

Bret Padres, CEO of The Crypsis Group, also gave a statement. “We have dedicated ourselves to creating a more secure world through the fight against cybercrime. Together with Palo Alto Networks, we will be able to help businesses and governments better respond to threat actors on a global scale.”

Learn more about Palo Alto Networks here. 

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