Palo Alto Networks Completes Acquisition of Dig Security

Enabling a comprehensive cloud data security solution for the Generative AI era

SANTA CLARA, Calif., Dec. 5, 2023 /PRNewswire/ -- Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, today announced it has completed its acquisition of Dig Security, an innovative provider of Data Security Posture Management (DSPM). The large volumes of data stored in the cloud require data security solutions that are purpose-built to handle the complexities of cloud environments. Dig's cutting-edge capabilities, seamlessly integrated into Palo Alto Networks Prisma^® Cloud platform, will provide organizations with near-real-time data protection across the entire cloud estate.

"We are thrilled to welcome Dig to Palo Alto Networks," said Nikesh Arora, chairman and CEO, Palo Alto Networks. "Public cloud and data are critical pieces of an enterprise's digital footprint, and their importance is only increasing with the adoption of generative AI. As a result, CISOs must prioritize data protection as part of a comprehensive cloud security strategy. By integrating Dig's DSPM capabilities into Prisma Cloud, we will provide customers with the critical data security capabilities and context they need to improve their overall cloud security posture."

Palo Alto Networks Prisma Cloud is the industry's most complete cloud-native application protection platform (CNAPP), revolutionizing how organizations protect their multicloud environments. The latest Prisma Cloud Darwin release introduced Code to Cloud™ intelligence, which connects insights from developer environments to the application runtime, contextualizes alerts, and offers remediations to prevent risks and stop breaches. The integration of Dig's technology into the Prisma Cloud platform will enhance its data security capabilities by extending Code to Cloud intelligence insights to cloud data stores. This will offer a comprehensive view of risks associated with cloud applications, data and infrastructure, all in one place. The Dig acquisition reinforces Prisma Cloud's position as the most complete CNAPP, providing customers with a single unified platform to secure complex cloud environments.

Learn more about Palo Alto Networks Prisma Cloud and the Dig acquisition here.

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Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions, including, but not limited to, statements regarding the anticipated benefits and impact of the acquisition on Palo Alto Networks and its customers. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including, but not limited to: the ability of Palo Alto Networks to integrate Dig's technology, operations and business; developments and changes in general market, political, economic, and business conditions; risks associated with managing our growth; risks associated with new products and subscription and support offerings; shifts in priorities or delays in the development or release of new 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 security products and subscription and support offerings; our customers' purchasing decisions and the length of sales cycles; our competition; our ability to attract and retain new customers; our ability to acquire and integrate other companies, products, or technologies in a successful manner; our debt repayment obligations; and our share repurchase program, which may not be fully consummated or enhance shareholder value, and any share repurchases which could affect the price of our common stock.

Additional risks and uncertainties that could affect our financial results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Quarterly Report on Form 10-Q filed with the SEC on November 17, 2023, 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.

About Palo Alto Networks

Palo Alto Networks is the world's cybersecurity leader. We innovate to outpace cyberthreats, so organizations can embrace technology with confidence. We provide next-gen cybersecurity to thousands of customers globally, across all sectors. Our best-in-class cybersecurity platforms and services are backed by industry-leading threat intelligence and strengthened by state-of-the-art automation. Whether deploying our products to enable the Zero Trust Enterprise, responding to a security incident, or partnering to deliver better security outcomes through a world-class partner ecosystem, we're committed to helping ensure each day is safer than the one before. It's what makes us the cybersecurity partner of choice.

At Palo Alto Networks, we're committed to bringing together the very best people in service of our mission, so we're also proud to be the cybersecurity workplace of choice, recognized among Newsweek's Most Loved Workplaces (2023, 2022, 2021), with a score of 100 on the Disability Equality Index (2023, 2022), and HRC Best Places for LGBTQ Equality (2022). 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. Any unreleased services or features (and any services or features not generally available to customers) referenced in this or other press releases or public statements are not currently available (or are not yet generally available to customers) and may not be delivered when expected or at all. Customers who purchase Palo Alto Networks applications should make their purchase decisions based on services and features currently generally available.

SOURCE Palo Alto Networks, Inc.