SANTA CLARA, Calif.,
Nov. 25, 2019 /PRNewswire/ -- Palo
Alto Networks (NYSE: PANW), the global cybersecurity leader, today
announced that it has entered into a definitive agreement to
acquire Aporeto Inc., a machine identity-based microsegmentation
company. Under the terms of the agreement, Palo Alto Networks will
pay approximately $150 million in
cash to acquire Aporeto, subject to customary adjustments. The
acquisition is expected to close during Palo Alto Networks fiscal
second quarter, subject to the satisfaction of customary closing
conditions.
Palo Alto Networks provides the most complete cloud security
suite in the industry, with a broad set of capabilities in all
critical areas of cloud security. The proposed acquisition of
Aporeto will further strengthen the company's Cloud Native Security
Platform delivered by Prisma™ Cloud.
Aporeto identifies workloads and applies microsegmentation
across all infrastructures, helping customers secure their
applications at scale. The company was recognized as a Gartner Cool
Vendor in Cloud Security in 2018 and named to the 2019 CNBC Upstart
100 list. Aporeto co-founders Dimitri Stiliadis and
Satyam Sinha have agreed to join
Palo Alto Networks.
Quotes:
"We are thrilled to welcome Aporeto to the Palo Alto Networks
family. We believe the addition of Aporeto's unique machine
identity technology will further enhance our leading Prisma Cloud capabilities and strengthen our
commitment to helping customers secure their journey to the
cloud."
- Nikesh Arora, chairman and CEO,
Palo Alto Networks
"We have dedicated ourselves to helping organizations securely
embrace the cloud. Teaming up with Palo Alto Networks allows us to
bring our machine identity-based microsegmentation technology to a
large customer base. We are thrilled to join forces to help
customers secure their journey to the cloud."
- Dimitri Stiliadis, co-founder
and CTO, Aporeto
About Palo Alto Networks
Palo Alto Networks, the global cybersecurity leader, is shaping the
cloud-centric future with technology that is transforming the way
people and organizations operate. Our mission is to be the
cybersecurity partner of choice, protecting our digital way of
life. We help address the world's greatest security challenges with
continuous innovation that seizes the latest breakthroughs in
artificial intelligence, analytics, automation, and orchestration.
By delivering an integrated platform and empowering a growing
ecosystem of partners, we are at the forefront of protecting tens
of thousands of organizations across clouds, networks, and mobile
devices. Our vision is a world where each day is safer and more
secure than the one before. For more information, visit
www.paloaltonetworks.com.
Palo Alto Networks, Prisma, 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 our management's beliefs and assumptions and on
information currently available to management. Such forward-looking
statements include statements regarding our intention to acquire
Aporeto, Inc., expectations regarding the timing of when the
acquisition will be completed, the expected benefits of the
acquisition of Aporeto to us, and the expected impact of the
acquisition on our offerings. 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, such as
risks associated with new product and subscription releases,
including our ability to successfully integrate Aporeto into our
product offerings; risks associated with managing our rapid growth;
our ability as an organization to successfully integrate Aporeto
and acquire and integrate other companies, products 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 annual
report on Form 10-K filed with the Securities and Exchange
Commission ("SEC") on September 9,
2019, 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.