Palo Alto Networks To Buy Cloud Security Startup RedLock For $173 Million>
CRN – Michael Novinson
The Santa Clara, Calif.-based platform security vendor said reports from Menlo Park, Calif.-based RedLock will help highlight an organization’s cloud risks. The firm plans to create a single offering from the technologies of RedLock and Evidentâwhich was acquired in March for $300 millionâthat delivers cloud security analytics, advanced threat detection, continuous security and compliance monitoring. The deal is expected to close in the quarter ended Nov. 30, with RedLock co-founders Varun Badhwar and Guarav Kumar joining Palo Alto Networks. The company’s stock is down $0.02 (0.009%) to $222.72 in pre-market trading Wednesday. Palo Alto Networks said it already provides a broad security offering for multi-cloud environments with inline, host-based and API-based security. The company currently serves more than 6,000 cloud customers globally with a portfolio that includes VM-Series next-generation firewall, Aperture, Evident and GlobalProtect cloud service. RedLock, meanwhile, specializes in: discovering and classifying cloud resources and applications; detecting threats and vulnerabilities in an organization’s public cloud; and prioritizing risks, investigating and remediating threats. The company’s security analytics capability utilizes an artificial intelligence-driven approach that correlates disparate security data sets, according to Palo Alto Networks.
Link: https://www.crn.com/news/security/palo-alto-networks-to-buy-cloud-security-startup-redlock-for-173-million