Palo Alto Networks announced that it has entered into a definitive agreement to acquire RedLock. 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 provides a 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 firewall, Aperture, Evident, and GlobalProtect cloud service.
Palo Alto Networks will combine the Evident and RedLock technologies to provide customers with cloud security analytics, threat detection, 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 threats by replacing manual investigations with automated, real-time remediation and reports that highlight an organization’s cloud risks.
“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.”, said 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.”, said Varun Badhwar, co-founder and CEO of RedLock.