Palo Alto Networks Announces Intent to Acquire Secdo

SANTA CLARA, Calif., April 10, 2018 /PRNewswire/ -- Palo Alto Networks® (NYSE: PANW), the next-generation security company, today announced that it has entered into a definitive agreement to acquire Israel-based Secdo. The acquisition brings sophisticated endpoint detection and response, or EDR, capabilities – including unique data collection and visualization – to Palo Alto Networks Traps™ advanced endpoint protection and the Application Framework in order to enhance their ability to rapidly detect and stop even the stealthiest attacks.

Secdo's team of elite engineers will complement the deep security expertise and innovation inside the Palo Alto Networks research and development organization. The company's thread-level approach to data collection and visualization goes far beyond traditional EDR methods, which only collect general event data, hamstringing security operations teams as they try to reconstruct each step of an attack and distinguish malicious activity from normal. Once integrated with Traps and the Palo Alto Networks platform, this rich data will feed into the Logging Service and give applications running in the Palo Alto Networks Application Framework greater precision to visualize, detect and stop cyberattacks.

QUOTES:

• "We believe security operations teams need the most advanced and consistent approach to endpoint security. With Secdo's EDR capabilities as part of our platform, we will accelerate our ability to detect and prevent successful cyberattacks across the cloud, endpoint, and network."

-        Mark McLaughlin, chairman and CEO of Palo Alto Networks

• "We are delighted to join the Palo Alto Networks team. We founded Secdo to dramatically increase visibility for security operations teams to reduce the time it takes to detect and respond to an alert. The combined capabilities of Secdo and Palo Alto Networks will provide customers the capabilities they need to swiftly and accurately detect and respond to cyberattacks."  

-        Shai Morag, co-founder and CEO of Secdo

The acquisition is expected to close during Palo Alto Networks fiscal third quarter, subject to satisfaction of customary closing conditions. Terms of the acquisition were not disclosed.

About Secdo

Secdo combines Next-generation Endpoint Detection and Response with Security Automation to provide the only purpose-built solution that force multiplies the productivity of security operations teams' day-to-day, allowing them to get ahead and be proactive in defense. Secdo makes this possible with a patented technology that uses assisted learning combined with the only thread-level visibility to automatically investigate and respond to every alert from any security technology, increasing ROI of current technology investments, resolving staff shortage issues and providing quantifiable risk reduction by cutting the security alert triage, response and remediation process down to seconds.

About Palo Alto Networks

Palo Alto Networks is the next-generation security company, leading a new era in cybersecurity by safely enabling applications and preventing cyber breaches for tens of thousands of organizations worldwide. Built with an innovative approach and highly differentiated cyberthreat prevention capabilities, our game-changing security platform delivers security far superior to legacy or point products, safely enables daily business operations, and protects an organization's most valuable assets. Find out more at www.paloaltonetworks.com.

Palo Alto Networks, Traps and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names or service marks used or mentioned herein belong to their respective owners.

Forward-Looking Statements

This press release contains "forward-looking" statements that are based on Palo Alto Networks management's beliefs and assumptions and on information currently available to management. Such forward-looking statements include statements regarding our intention to acquire Secdo; expectations regarding the timing of when the acquisition will be completed; the expected benefits of the acquisition of Secdo to us and customers of Palo Alto Networks and Secdo; and our expectations regarding our combined offerings performing as intended. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including risks associated with new product and subscription releases, including our limited operating history; risks associated with managing our rapid growth; our ability as an organization to acquire and integrate other companies, product or technologies in a successful manner; the risks associated with new products and subscription and support offerings, including the discovery of software bugs; our ability to attract and retain new customers; delays in the development or release of new subscription offerings, or the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support offerings; rapidly evolving technological developments in the market for network security products and subscription and support offerings; length of sales cycles; and general market, political, economic and business conditions.  Additional risks and uncertainties are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our quarterly report on Form 10-Q filed with the Securities and Exchange Commission ("SEC") on February 27, 2018, which is available on our website at investors.paloaltonetworks.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

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SOURCE Palo Alto Networks, Inc.