Palo Alto Networks Closes Acquisition of Evident.io

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Mar 26, 2018, 04:15 ET

SANTA CLARA, Calif., March 26, 2018 /PRNewswire/ -- Palo Alto Networks® (NYSE: PANW), the next-generation security company, announced today that it has completed its acquisition of Evident.io, a pioneer and leader in public cloud services infrastructure protection. For Palo Alto Networks, the transaction will extend its leadership in cloud security and create the only holistic cloud offering to address the critical security needs of today's enterprise customers as they adopt the cloud.

"The completion of this acquisition provides Palo Alto Networks the opportunity to extend our leadership in cloud security," said Mark McLaughlin, Palo Alto Networks CEO. "We expect customers from both Evident.io and Palo Alto Networks to benefit from Evident as part of our platform and to experience a smooth transition."

Palo Alto Networks has established itself as the leader in public cloud security through the unique combination of VM-Series virtualized next-generation firewalls for inline cloud security, API-based security for public cloud services infrastructure, and Traps for host-based protections.

Evident.io extends the Palo Alto Networks API-based security capabilities, and helps cloud practitioners ensure their deployments are secure as well as achieve a continuous state of compliance by analyzing the configurations of all the services and account settings against strict security and compliance controls. Once integrated with the Palo Alto Networks cloud security offering, customers will be able to use a single approach to continuous monitoring, storage security, and compliance validation and reporting. This will give security, DevOps and compliance teams unique capabilities to:

Confidently develop and deploy new applications in the cloud faster.
Simplify developer and security operations to speed deployments without sacrificing security.
Continuously validate compliance of cloud deployments.

Palo Alto Networks acquired Evident.io for $300 million in cash.

About Palo Alto Networks
Palo Alto Networks is the next-generation security company, leading a new era in cybersecurity by safely enabling applications and preventing cyber breaches for tens of thousands of organizations worldwide. Built with an innovative approach and highly differentiated cyberthreat prevention capabilities, our game-changing security platform delivers security far superior to legacy or point products, safely enables daily business operations, and protects an organization's most valuable assets. Find out more at www.paloaltonetworks.com.

Palo Alto Networks 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 Palo Alto Networks management's beliefs and assumptions and on information currently available to management. Such forward-looking statements include statements regarding the opportunity to extend Palo Alto Networks leadership in cloud security; the expected benefits of the acquisition of Evident.io, Inc. to us and customers of Palo Alto Networks and Evident.io; and the expectation for a smooth customer transition experience. 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, including risks associated with new product and subscription releases, including our limited operating history; risks associated with managing our rapid growth; our ability as an organization to acquire and integrate other companies, product 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 quarterly report on Form 10-Q filed with the Securities and Exchange Commission ("SEC") on February 27, 2018, 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.