Palo Alto Networks To Acquire Demisto For $560 Million In Cash And Stock

(RTTNews) - Cybersecurity firm Palo Alto Networks Inc. (PANW) agreed Tuesday to acquire security company Demisto for a total purchase price of $560 million, subject to adjustment, to be paid in cash and stock.

Demisto is a leading security company in the security orchestration, automation and response (SOAR) space.

The addition of Demisto's orchestration and automation technologies will accelerate Palo Alto Networks Application Framework strategy and serve as a critical step forward in the company's aim to deliver immediate threat prevention and response for security teams. It will also expand analytics and automation capabilities. The proposed deal is expected to close during Palo Alto Networks fiscal third quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.

Demisto's products will continue to be available to customers and partners after the transaction closes. Demisto founders, Slavik Markovich, Rishi Bhargava, Dan Sarel and Guy Rinat, will join Palo Alto Networks.