Palo Alto Networks has announced the acquisition of Expanse to boost the capabilities of the firm’s Cortex cybersecurity product portfolio.
Announced on Wednesday, Palo Alto said the purchase will be used to bolster the Cortex portfolio with Expanse’s attack surface management solutions.
The deal was secured for $670 million in cash and stock, as well as roughly $130 million in replacement equity awards — although these amounts may be adjusted.
Founded in 2012, San Francisco-based Expanse develops solutions designed to monitor attack surfaces in order to perform risk assessments and mitigate threats.
The platform includes a dashboard for discovering and monitoring Internet assets, software for monitoring suspicious network activity and analyzing traffic patterns, and also offers a selection of APIs and tools for integration with existing IT infrastructure.
“Expanse’s data provides CISOs with a view of the enterprise from the outside, representing the view an attacker sees as they probe for points of weakness,” Palo Alto says.
The company has secured $136 million in funding to date. Previous investors include TPG, IVP, and New Enterprise Associates.
Expanse co-founders, Tim Junio and Matt Kraning, will join the Palo Alto Networks team once the deal is complete.
“Expanse’s mission is to discover and mitigate risks for our customers that no one else can find,” commented Junio. “The world’s largest and most complex organizations trust Expanse to continuously discover, inventory, monitor, and report against their dynamically changing attack surface. Matt and I look forward to joining forces with Palo Alto Networks to help secure the internet for enterprises and governments around the world.”
The acquisition is expected to close during Palo Alto Networks’ financial second quarter, subject to regulatory approval and other closing conditions.
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