SANTA CLARA, Calif. -- Palo Alto Networks, 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.