Palo Alto Networks reported today it will acquire the cloud cybersecurity firm RedLock in an all-cash deal for $173 million.
The acquisition is expected to close during Palo Alto’s first fiscal quarter, which started August 1. Once completed RedLock co-founders Varun Badhwar and Gaurav Kumar will join Palo Alto Networks. Palo Alto plans to combine Redlock’s technology with that of Evident.io, which the company bought in March 2018, that will create a cloud security analytics, advanced threat detection, continuous security, and compliance monitoring in a single offering, Palo Alto said.
“We are thrilled to add RedLock's technology to our cloud security offerings. The addition of their technologies allows us to offer the most comprehensive security for multi-cloud environments, including Amazon Web Services, Google Cloud Platform and Microsoft Azure, and significantly strengthens our cloud strategy going forward,” said Nikesh Arora, chairman and CEO of Palo Alto Networks.