Palo Alto Networks Completes Acquisition of Twistlock

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Jul 09, 2019, 16:15 ET

SANTA CLARA, Calif., July 9, 2019 /PRNewswire/ -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today that it has completed its acquisition of Twistlock, the leader in container security, to extend its Prisma™ cloud security strategy. This acquisition will further advance the company's ability to secure today's modern applications throughout the entire life cycle, enabling organizations to deliver innovations that are secure, reliable, and scalable.

"As a growing number of organizations move their business to the cloud, developers increasingly rely on cloud-native technologies such as containers and serverless infrastructure to accelerate the development, testing, and deployment of modern applications and services," said Nikesh Arora, CEO of Palo Alto Networks. "We are excited to welcome Twistlock to Palo Alto Networks. With Twistlock's market-leading container security capabilities, we are more confident than ever in our ability to enable a secure journey to the cloud for our customers."

Twistlock combines vulnerability management, compliance, and runtime defense for cloud-native applications and workloads. The company serves more than 300 customers, with more than a quarter of those on the Fortune 100 list. Twistlock co-founders, Ben Bernstein and Dima Stopel, will join Palo Alto Networks. Twistlock will continue to be available as a standalone product and will also be integrated into Prisma Public Cloud.

Containers are a fast-growing software development infrastructure option. The technology packages code, configurations, and dependencies, enabling organizations to deliver software more quickly and easily.

Palo Alto Networks paid approximately $410 million in cash, excluding purchase price adjustments, to acquire Twistlock. The company announced another addition to its Prisma cloud security suite with the completion of its acquisition of PureSec, a leader in serverless security, on June 13, 2019. With the acquisitions of Twistlock and PureSec, customers migrating to the cloud can now rely on Prisma to secure all types of cloud workloads and architectures, across multiple public cloud provider platforms, as well as private and hybrid cloud environments.

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.

Forward-Looking Statements
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 the expected benefits of the acquisition of Twistlock to us, our market position, and our customers, the expected impact of the acquisition on our offerings, our expectations regarding our existing and acquired offerings performing as intended, and our integration plans. 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 successfully integrate Twistlock 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 quarterly report on Form 10-Q filed with the Securities and Exchange Commission ("SEC") on May 30, 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.