US cybersecurity company Palo Alto Networks (NYSE: PANW) today announced that it has agreed to acquire Israeli cybersecurity company Secdo. Sources close to the deal at Secdo say that Palo Alto Networks will pay $100 million mostly in cash but also in shares.
The acquisition will bring sophisticated EDR capabilities including unique data collection and visualization to Palo Alto Networks Traps advanced endpoint protection to enhance its ability to rapidly detect and stop even the stealthiest attacks.
Founded in 2015 by CEO Shai Morag and CTO Gil Barak, both graduates of the IDF 8200 intelligence unit, Secdo has developed a platform to provide Next-Generation Incident Response solutions on cyberattacks. Amir Kotler serves as president and COO.
The company is based in Ra'anana and has raised $11 million to date, Investors include RDC (owned jointly by Elron Electronic Industries Ltd. (TASE: ELRN) and Rafael Advanced Defense Systems Ltd.)), Eyal Ofer's O.G. Tech Ventures and angels including Check Point Software Technologies Ltd. (Nasdaq: CHKP) founder Marius Nacht.
Secdo’s team of elite engineers will complement the deep security expertise and innovation inside the Palo Alto Networks R&D organization. The company’s thread-level approach to data collection and visualization goes far beyond traditional EDR methods, which only collect general event data and hamstrings security operations teams trying to reconstruct each step of an attack and distinguish malicious activity from normal activity. 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 for detecting and stopping cyberattacks.
Morag said, "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."
Palo Alto Networks chairman and CEO Mark McLaughlin said, "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 cloud, endpoint, and the network."
Published by Globes [online], Israel business news - www.globes-online.com - on April 10, 2018
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