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.
"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.
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.
SOURCE Palo Alto Networks, Inc.